![]() In August, AirDNA reported that markets where supply had grown by more than 50% had an average occupancy decline of over 10% and saw revenues drop by 8%. short-term rental markets from July through September, according to AirDNA. Hosts complaining of low bookings weren’t imagining things: Occupancy rates fell in 31 of the top 50 largest U.S. Now, Marr says, things have changed: ”The rapid surge in mortgage rates and the resulting fewer homeowners motivated to sell now have kept home prices high and the affordability crisis raging.” The deal with high demand ![]() ![]() “A lot of the supply in these markets shifted away from the for-sale market and long-term rental market towards the short-term rental market amidst a surge of demand for Airbnbs and other vacation rentals,” says Taylor Marr, deputy chief economist for real estate brokerage Redfin. ![]()
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