Streeteasy data [0] shows a drop in listings but no fall in asking rents. However there has been a sharp rise in concessions - i.e. free month upon new lease signing. My guess is landlords are currently keeping apartments off the market rather lock in lower rents, and when they do need to move a unit they use concessions since they look better from an accounting basis. I think eventually we will see a fall in gross rents but it may take longer than expected.