Is Year over Year data on STRs still wonky because of COVID?

[David N.]

I just got my AirDNA membership and have been researching markets. I've noticed that for most markets, even highly valued ones, the numbers are down YoY. Is that because in early 2023 there was still a COVID and work from home impact? Or are people generally spending less money in this sector. I'm currently looking in South Central VT and it's not terrible but numbers are definitely off. Open to insights from anywhere though. Thanks! David

[Andrew Steffens]

Chiming in from Florida - We are having YoY growth in 2016/17/18/19 and then an explosion in 20/21/22.  Florida was one of the few open states during those years and you could rent a trailer for $500 a night basically.  Now that everything is open demand has normalized.  Definitely a market correction as the lower rates and demand have forced a lot of lower quality properties out as well as equity rich investors here as well.  We are actually up 14% bookings YoY 2023-24 so I am still optimistic about the market overall, but it likely will never be like 20-22 ever again.