U.S. apartment rents dropped for the third straight month in November, easing back from this year’s record highs as leasing demand continues to weaken, according to newly released data.
While still lofty compared to previous years, effective asking rents for new leases declined 0.59 percent nationally last month, marking the largest cut since the pandemic lockdowns in April and May 2020, real estate software and data firm RealPage found.
