Apartments Rents Fall as Crush of New Supply Hits Market

"Apartment rents fell in every major metropolitan area in the U.S. over the past six months through January, a trend that is poised to continue as the biggest delivery of new apartments in nearly four decades is slated for this year.

Renters with new leases in January paid a median rent that was 3.5% lower than they would have paid last August, according to estimates from the listing website Apartment List. It was the first time in five years that rent fell every month over a six-month period, according to the same estimates."