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…

The median rent for an apartment in the United States has dipped 2.2 percent since August, pointing to a cooling of the country’s super-heated apartment market as demand slows and vacancy rates rise. Apartment List, an online rental marketplace, observed a 1 percent decline in its national rent index in November, marking the third straight…