Arizona STR market article

[Bruce Woodruff]

From an Arizona publication......claiming the STR market is over-saturated. I do see a lot of STRs for sale on various FB sites. I doubt this is a national trend as AirDNA predicts, but what are y'all seeing?

"According to a mid-year outlook from AirDNA, an analytics company focused on short-term rentals, the increase in short-term rental supply will cause another year of declining occupancy. Nationwide, AirDNA predicts short-term rentals will have an occupancy rate of 57.6%."

https://www.azfamily.com/2023/...

[Noah Laker]

I host almost 100 properties in Arizona. It has never been this bad. Occupancy dropped like a rock after Q1. 

We are managing to stay afloat through midterm rentals, direct bookings, student housing etc but Arizona attracted too much dumb money through a combination of good times and no barriers to entry. 

My STRs in Northern California are performing MUCH better. So this "Airbnb Bust" is highly regional. I am still bullish and not going anywhere but this will weed out the weaker players. There's no more easy money in Arizona.