SANTA CLARA, Calif., Jan. 25, 2024 /PRNewswire/ — The U.S. rental market experienced a noticeable shift in momentum in 2023 and closed out the year with eight straight months of year-over-year price declines, according to the Realtor.com®December Rental Report released today. While rents are overall up from pre-pandemic levels, an uptick in supply from a building boom in recent years means 2023 didn’t see a new peak in rent prices from their 2022 highs.

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