Unlike retail, multi-family is performing well for investors. Consequently, permits for new units rose by 12.8 percent from the previous year. Developer activity falls in line with this outlook. In both the Bay Area and Southern California, many more developers have plans to start new projects this year than last year. Vacancy rates throughout Southern California are expected to remain the same or slightly increase throughout the rest of the decade. Learn more: www.allenmatkins.com/ucla