The housing market had an insane year in 2022, and the rental market fell in tandem with the chaos. As housing prices rose, so did rent. Now, as 2023 kicks off, experts at Realtor.com say rent prices look like they could be finally coming down.

As of November, a new Realtor.com report found that rental prices in nine of the 50 largest metropolitan areas are showing year-over-year declines. That’s up from seven of the 50 largest metros just one month prior, as the national rental market correction continues. And for the metros that already saw rents turning south before November, prices dropped below October prices.

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