Third Quarter 2026
Multifamily Market Outlook
Los Angeles County
CalSTRS acquired an 11-community apartment portfolio totaling 3,620 units from Camden Property Trust for $1.625 billion, or approximately $448,895 per unit.
By J.C. Casillas
Managing Director of Research and Public Relations at NAI Capital Commercial
Managing Director of Research and Public Relations at NAI Capital Commercial
LEASING TRENDS
Vacant units rose 0.3% QoQ and 12.4% YoY, while units under construction fell 15.6% both QoQ and YoY, reflecting a pullback in new development amid continued oversupply pressure. Average asking rent per unit was flat, up just 0.3% QoQ and YoY.
SALES TRENDS
Units sold rose 54.4% QoQ and 19.8% YoY, while average sale price per unit fell 2.5% QoQ but remained up 1.6% YoY, pointing to strong volume growth alongside relatively stable pricing.
