- Rents in August were just 0.28% higher than August 2022, according to RealPage.
- Compare that to a year ago, when rents were posting 11% annual growth.
- The number of new units being built is at a 50-year high, with more than 460,000 being completed this year alone.
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Apartment Rents Are On The Verge Of Declining Due To Massive New Supply
Apartment rents have been cooling off sharply for several months, and they look like they’re about to go negative compared with a year ago.
