O.C. apartment rents may fall 2.5 percent
OC Metro
By Kristen Schott
... Apartment rents in Orange County could decline an average 2.5 percent this year, according to a new report from the USC Lusk Center for Real Estate.
The Casden Real Estate Economics Forecast gave Southern California's multifamily housing industry a "mixed outlook," due to declines in rents in L.A., in addition to O.C., as well as flat numbers through Riverside and San Bernardino counties. San Diego, on the other hand, is the only market in the region projected to see a rent increase this year...
..."Overall, Southern California will not see sustained increases in rents until the greater economic health of the region improves," says Tracey Seslen, Ph.D., co-author of this year's report.
Seslen notes the Southern California multifamily housing market's health depends heavily on the jobs picture, housing prices and new construction, among other factors...