A “Now Leasing” sign is displayed in front of an apartment complex in Washington, DC, on January 24, 2022.Stefani Reynolds | AFP | Getty ImagesThe red-hot rental market is finally starting to cool off along with the rest of housing. Rents are still higher than they were a year ago, but the gains are shrinking, as landlords lose pricing power in the face of inflation.Rents in October rose 4.7% compared with October 2021, the slowest annual increase in 18 months, according to Realtor.com. The U.S. median rent was $1,734. “Our data indicates that we are finally starting to see a bit of relief from the double-digit pace of rent growth that we experienced during the height of the pandemic,” said Danielle Hale, chief economist at Realtor.com. “While it’s still a bit early to say that we’re officially on a downward trajectory for …
