![]() Urban and suburban rentals have seen significant declines in demand, by 55.5 percent and 33.5 percent from the previous year, respectively. The inaugural report, which will be released monthly for a high-level trend analysis of the market, highlights the continued draw of destination and resort markets for short-term rentals, as well as markets that provide ample opportunity for outdoor activities. Those higher occupancy rates and a general trend toward booking larger units drove average daily rates of short-term rentals to increase of 7.3 percent in December, a slowdown from the 12.3 percent increase in average daily rates seen in November. As a result, overall occupancy rates were up by 5.8 percent year over year from December 2019 for an average occupancy rate of 47.9 percent. ![]() Simultaneously, available supply also decreased amid a holiday season dampened by spiking COVID-19 positivity rates across the U.S. ![]() Short-term rental demand declined 15.3 percent in December, according to a new report by short-term rental analytics firm AirDNA.
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