Apartment Sales Soar; Remain Safe Investment

SAN DIEGO-The county recorded the highest number of apartment sales since 1989 during the second quarter, according to a new report. Low vacancies and high rents topping $1,000 per month caused the surge by investors to capitalize, Burnham Real Estate Services says.

By Randyl J. Drummer | August 31, 2001 at 01:01 AM

Second-quarter sales totaled 298 transactions for a grand total of 4,493 units, up 12% over the same period a year ago. The study showed the highest number of sales since the 302 deals some 12 years ago.

The 561 transactions in the county during the first six months of the year is a 14% percent increase over the first half of 2000, when there were 492 sales.

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