Records are also expected to be broken for the number of people traveling - more than 50 million - for the Fourth of July, the AAA has said.ĭata released Tuesday showed U.S. Watch out for a wave of forced selling from Airbnb owners later this year in the areas hit hardest. consumer doesn’t seem to be deterred from vacationing this summer as spending continues to shift from goods toward experiences.Ī survey by Allianz Partners released last month predicted total vacation spending exceeding $200 billion this summer, 10% higher than in 2022 and 39% above 2021’s level and 111% more than prepandemic 2019. Revenues are down nearly 50 in cities like Phoenix and Austin. Quick Breakdown of the Best Airbnb Phoenix Rentals 1) Downtown Phoenix Rental Prime Location & Close to Everything 2) Unique Airbnb Airstream in Downtown. Last month, the company reported a record in nights booked in the first quarter, driving the first profitable start to the year on record, but the stock fell on a less-bullish-than-expected forecast by executives, who said growth in nights and experiences booked would be “unfavorable” a year-earlier travel surge powered by pent-up demand in the wake of pandemic-era lockdowns.ĭespite signs of weakening in some Airbnb markets, the U.S. “As we said during our Q1 earnings, more guests are traveling on Airbnb than ever before, with Nights and Experiences Booked growing 19% in Q1 2023 compared to a year ago.”Īirbnb shares have climbed nearly 50% this year, more than recouping losses in 2022. “The data is not consistent with our own data,” an Airbnb company spokesman told MarketWatch in an email. While they could be first to sell later this year, more seasoned owners who paid less for houses with lower-interest-rate mortgages may be able to ride out a storm. The most trouble could be looming for “newbie” Airbnb owners who financed property purchases via mortgages in the last two years and “got in at a high price. With revenue down around 50% for the former, it creates a “cocktail for massive forced selling,” he said. He said owners also may not also be aware of what he called a pending “Airbnb crash,” noting that Phoenix has 18,000 short-term rentals but just 8,000 properties for sale. Phoenix Vacation Rentals Home and Condo Rentals Airbnb Phoenix vacation rentals Top-rated vacation rentals in Phoenix Guests agree: these vacation rentals are highly rated for location, cleanliness, and more. He reasoned that fewer people are now working from home and vacationing in states like Montana, Texas and Tennessee, he said.
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