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Supply continues to be a major theme in the U.S. rental-housing market, with Sun Belt markets especially seeing an unprecedented level of new construction delivering in recent quarters. GETTY IMAGES

Austin Business Journal writes, "The national rental-housing market has continued to cool, with differing outcomes based on geography and unit type.

Several markets in the South posted significant year-over-year declines in apartment rental rates as of April, according to a new Realtor.com analysis. Those declines were led by Nashville, Tennessee, and Austin, Texas, the latter of which has seen an 8.3% annual drop in asking rents and an 11.5% drop since peaking September 2022.

And while most rental markets similarly have come off an August or September 2022 peak, a few locations are bucking the trend — including Indianapolis, Milwaukee and Minneapolis, which all experienced record-high rents in April, Realtor.com found.

Danielle Hale, chief…

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