Today, we're diving into the latest developments in the rental market, where we're witnessing a significant shift in favor of tenants after years of soaring rent growth.Recent data reveals that apartment rent growth is declining rapidly, signaling a turning point in the rental market. Over the past 12 months, new-lease asking rents have risen by just under 2%, a stark contrast to the double-digit increases experienced in the previous year. This deceleration represents the largest decline in recent history, according to industry experts at CoStar Group and RealPage.