Excerpt from PhocusWire
In November, short-term rental bookings went up as news of a COVID-19 vaccine helped boost traveler confidence.
Now, with the rollout of the vaccine underway, forecasts predict that it will still take some time for Airbnb occupancy rates to recover; however, national daily rates are expected to grow throughout 2021.
According to real estate data analytics platform Mashvisor’s Airbnb Market Forecast, which examined historical data on Airbnb occupancy rates and daily rates across 169 cities, it will take until September 2021 for Airbnb occupancy rates to recover in the United States.
As the vaccine is made more widely available to the general public this year, Mashvisor expects the national Airbnb occupancy rate to gradually improve each month in 2021 compared to 2020.
In April 2021, for example, the average forecasted Airbnb occupancy rate is 45.5%, compared to the 2020 average Airbnb occupancy rate of 48.9%. By the following month, May, the average forecasted occupancy rate is 52.9% compared to 56% in 2020.
By September 2021, the average forecasted daily rate is expected to equal that of 2020 at 61.1%.
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