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“Sea level” has been falling rapidly since the mid ‘70s.
That is why tyhe feds changed from reliable land based “Spirit Leveling” to measure the change, to sattelite data that is easily rigged.
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I do not know that it has been “falling rapidly” but it is not as straight forward to measure as one would assume because land masses go up and down in relation to the sea for various reasons also. There are port cities all over the world that have been established for many hundreds of years which have not changed much in relation to the “sea level” in all of that time.
The oldest port city in this country is St. Augustine in Florida established in 1565. St. Augustine had been sinking relative to the sea level just like New Orleans. But it will still be hundreds of years before it is below sea level like New Orleans already is at the current rate. And as you say sea level rise appears to have peaked so they may not ever have to build a bunch of dikes and levies as New Orleans had to do.