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Real Estate

May 13, 2003

Bay Area Multifamily Rental Market Softens

SAN FRANCISCO - Bay Area apartment vacancy rates edged up further in the first quarter of 2003 and average rents declined as the continued economic weakness and mounting job losses took their toll, according to Marcus & Millichap Real Estate Investment Brokerage Co.

SAN FRANCISCO - Bay Area apartment vacancy rates edged up further in the first quarter of 2003 and average rents declined as the continued economic weakness and mounting job losses took their toll, according to Marcus & Millichap Real Estate Investment Brokerage Co.

Apartment investors are showing more caution and avoiding overpriced properties. However, only a minor downward adjustment in prices is expected as investors are still high on the market's long-term...

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