Rents rose fastest in these San Antonio areas since pandemic began. But growth rates slowing.

SAN ANTONIO — There’s some good news of late for residential tenants in San Antonio, who — like those in many other cities — have faced rapidly rising rents since early in the COVID-19 pandemic amid limited inventory, construction slowdowns, remote work shifts and more people seeking apartments of their own.

Rents fell 0.6 percent from the second quarter to the third quarter, a “notable retreat,” said Danny Khalil, a senior market analyst at commercial real estate data firm CoStar.

That trend will likely continue through the end of 2022 as a slew of apartments are built and demand softens.

“Part of it is just a normalization in the economy,” Khalil said. “A lot of dynamics in the pandemic were not going to last forever.”

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