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The Short-Term Rental Market Sees Highest Demand on Record in July

  • August 17th

by UrbanTurf Staff

The thinking that the short-term rental market was in a downward spiral may have been premature. 

AirDNA, a website that tracks short-term rental data, reported this week that July set demand records for the market in the U.S. 

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"July 2023 broke the record for the most short-term rental stays in one month, with 35.4 million nights stayed, beating the previous high recorded in July 2022 by 9.4%," AirDNA stated earlier this week. "Although slower than June’s demand growth of 12.5% on a year-over-year (YOY) basis, the results were especially impressive amid a searing heatwave, increasing interest in off-season booking, and inflation-weary consumers looking for budget options."

Since March, the number of demand nights has risen by approximately two million a month compared to 2022. AirDNA attributes the increasing demand to a strong labor market that appears to be outweighing inflationary pressures at the moment. 

See other articles related to: airbnb, airbnb dc, short-term rental

This article originally published at https://dc.urbanturf.com/articles/blog/the_short-term_rental_market_sees_highest_demand_on_record_in_july/21364.

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