Apartment rents fell for the third straight month, consistent with typical seasonal trends, according to a new report from Apartment List.

The firm’s national index fell by 1 percent over the course of November, the third straight month-over-month decline and the largest single month dip since 2017. Experts say the timing of the recent cooldown in the rental market is “consistent with the typical seasonal trend, but its magnitude has been notably sharper than what we’ve seen in the past, suggesting that the recent swing to falling rents is reflective of a broader shift in market conditions beyond seasonality alone.”

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Lynn Pollack

GlobeSt

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