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For some time now, reports have surfaced predicting a real estate market crash due to a supposed influx of of Airbnb home owners selling. Is this truth or fiction? Here are the facts...
➡️ Bookings are at an all time high because the number of Airbnbs are at all time high of 1,424,411 compared to 1,176,306 in 2019.
➡️ In 2022, Airbnb had 394 million total bookings, surpassing the pre-pandemic peak of 327 million in 2019.
➡️ Airbnb's occupancy rate peaked at 60.4% in 2021 due to Covid. Occupancy was at 57.4% in 2022 - not a sharp decline.
➡️ Certain cities have suffered more than others, but overall revenue per available listings was up 27.8% between 2020-2021, up again 2.1% from 2021-2022, and only slightly down 1.6% from 2022-2023.
➡️ There has been no huge influx of Airbnb homes flooding the real estate market. Inventory for homes in the US is still at a historic low.
➡️ Botton line: An upcoming Airbnb bust is FICTION. Airbnbs are still thriving, especially in southern California.
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