Excerpt from PhocusWire
Although short-term rentals have proven a bright spot amid the COVID-19 crisis, the pandemic did have a negative impact on global Airbnb supply.
According to an analysis from AirDNA, Airbnb - which saw its supply more than double over the past four years, up to 5.4 million active listings compared to 2.3 million at the beginning of 2017 - lost 5% of its total listings from January through June of 2020.
Since that period, however, total listings have recovered and grown 2.5% off of pre-pandemic levels.
As of February 2021, a mix of mountain and coastal locations gained the most number of new available listings, which are defined as the number of active listings (the number of listings viewable on Airbnb with at least one prior booked night) that have calendar availability or at least one booked day in the month.
Growing supply in destination/resort areas has primarily benefited larger property managers, who tend to manage a high percentage of units in those locations. Globally, large operators – those with 21-plus units – increased both their available unit counts by more than 14% over the past year, while available listings declined by 9% for hosts with just one unit, which tend to be located in large urban markets.
Both large and mid-size U.S. cities saw a decline in available listings, while urban areas were the only location type to also register a decline in active listings. Currently, urban areas make up just 20% of Airbnb supply in the U.S., compared to 40% in 2016.
Overall, active listings have decreased the most in Canada, where 40% of units were concentrated in three cities – Toronto, Montreal and Vancouver – at the start of 2021.
Active unit counts grew the most in France, where almost all areas of the country have seen a growth in active units.
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