I'm not sure I would agree. I'm not a leasing agent, but work closely with several. When our market began to slow down, many would-be sellers pulled homes from the market and opted to rent. Feedback I've heard from our leasing department is that rents cooled off noticeably and that it takes longer than it's taken in years to find tenants. I'm not sure what you mean by significantly, but there's been a decrease in rent and increase in turn time caused by increase in inventory.
As with everything in this city, I think this also comes down to local neighborhoods.