Apartment Rents Fall as Crush of New Apartments Hit Market

Data is showing rents have been falling or staying flat since late summer 2022, and part of the reason is that nearly half a million new units are coming to market. Only 52 percent of tenants renewed leases in January—the lowest number for that month since 2018—suggesting renters are shopping around for a better deal. Nevertheless, rents generally are still up 20 percent or more from where they were pre-pandemic.

https://www.wsj.com/articles/apartment-rents-fall-as-crush-of-new-supply-hits-market-2403c6ea