ApartmentList’s national rent index dropped by 0.8 percent in December, in the fourth straight month-over-month decline for the sector — and the rest of the year is on track to be similarly tepid.

“The timing of this cooldown in the rental market is consistent with the typical seasonal trend, but its magnitude has been notably sharper than what we’ve seen in the past,” Apartment List’s research team notes in a new report.

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