Demand for short-term rentals fell by 0.9 percent in August, coming in under 2019 levels for the first time since April 2021, reported Airbnb. The 17.6 million nights sold in August 2021 was still up 23.9 percent relative to August 2020. The slight pullback in demand versus 2019 can primarily be attributed to a reversal in gains made in suburban areas and a cooling off the white-hot demand levels seen in mountain/lake destinations.
Suburban demand had been approaching recovery in June, when it was onlt 8 percent shy of 2019 levels. Since then, demand has slid to 14.4 percent lower than 2019. Phoenix and Fort Lauderdale, Fla., both with a high percent of suburban properties, had the largest decrease in demand growth in August after seeing abnormally high demand throughout the first part of the summer.
Mountain/lake destinations had some of the strongest demand growth during the past 18 months as guests looked to escape the city and live and work in these highly desirabl
