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Key Takeaways
- Rents in August fell by 2.2%, marking teh 25th month that they’ve moved lower on an annual basis, a Realtor.com report found.
- Even with the decline over the past two years, rents are still considerably higher than pre-pandemic levels.
- The report found that finding more affordable housing adn getting more space were among the most cited reasons that renters moved.
An ongoing decline in rents is giving more people the opportunity to find more space at a lower cost.
Rent prices fell for the 25th straight month in August, according to a Realtor.com report, with places like Las Vegas, Atlanta and Austin, Texas seeing some of the sharpest declines.