Rents fell annually for the first time in three years last month, reaching the lowest median asking rent in more than a year, according to data released Friday by real estate brokerage Redfin. Median asking rents dropped 0.4 percent year over year to $1,937 in March — marking the first annual decline since the beginning of the pandemic in 2020. The median asking rent rose more than 17 percent between 2021 and 2022. Redfin analyzed rent prices from Rent., an apartment rental listing website, across the 50 largest U.S. metros, using data from more than 20,000 apartment buildings nationwide. Redfin’s...