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Redfin: Apartment rents post first annual decline since early 2020

Posted by John Bergin on April 17, 2023

Median apartment rents fell on a year-over-year basis in March for the first time since early 2020, according to Redfin, with rates declining 0.4% to $1,937. An increase in supply and diminished consumer sentiment contributed to the decline. However, rents are still up 19.9% from three years ago.

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