AirDNA Market Overview for May 2022

[Robin Simon]

Really interesting market overview article from AirDNA came out a couple of weeks ago, curious to see everyone's thoughts on some of the data.  Some excerpts and my comments in bold

https://www.airdna.co/blog/air...

Highlights:

-Available listings reached 1.34 million, up 24.7% YOY (+11.8% vs. 2019)
-Demand is up 17.9% YOY (+26.1% vs. 2019)
-Occupancy was down 8.6% YOY to 60.2% (+8.6% vs. 2019)
-Average daily rates (ADRs) are up 4.6% YOY (+31.5% vs. 2019)
-Revenue is 23.3% higher YOY (+65.8% vs. 2019)

Still looks like a very healthy industry, my greatest concern as a lender remains those who are new to the market and doing their first or second listings and don't have the experience per se of the "good times" of the last 2 years and may not be able to weather a bit of a slowdown or rough waters.  Think there may be some huge opportunities though for liquid, professional, experienced investors to scoop up properties soon if these first timers throw in the towel.  Wonder how much of the 1.34 million of 24.7% YOY new listings are newbies vs. pros

Hottest Markets for Net Increased Listings

-Scottsdale, Houston, Miami, Austin, LA, Panama City, Atlanta, Ft. Lauderdale, Gatlinburg, Las Vegas

Certainly no surprises in there for me except maybe seeing Houston and LA so high up (maybe due more to just overall stock/pop).  Do ya'll think these markets are saturated or still opportunity?  I think the biggest question facing STR investors will be to identify what the "hot markets" will be on these sorts of lists a year from now

"Average daily rates increased by 4.6% YOY in May, averaging $263.75 for the month. This was the lowest YOY increase since April 2020 and was significantly lower than the 11.3% increase last month"

Even with this "Bad News" always good to remember that they are INCREASING not decreasing, just at a slower pace

Of the largest 50 short-term rental markets, ADRs grew the most in Destin, FL (+29.4%) followed by Santa Rosa/Rosemary Beach, FL (+28.9%) and Maui, HI (+22.7%). Other notable markets with high growth include New York, NY (+19.1%), Boston, MA (+18.7%), and Chicago, IL (+15.1%), all of which were in the top 10 markets for fastest-growing ADRs over the past year.

Interested and surprised to see NY and Chicago here

Thoughts, agreements, disagreements, other takeaways?