Airbnb Rentals Are Plummeting in Its Biggest US Market

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Listings for short-term rentals continued dropping in October in NYC following stricter rules introduced by the city in September.

The drop in Airbnb listings in New York City, which immediately followed the city authority's strict new laws on short-term rentals in early September, has continued in October, as shown by a recent report shared with Newsweek.

Looking specifically at demand for short stays and long stays, AirDNA found that demand for short stays was actually down 28 percent from a year ago in October, while demand for longer stays is up 6 percent.New York City officials enforced new legislation on September 5 severely restricting residents' ability to rent out homes through short-term rental platforms like Airbnb, citing a crisis of affordability for both renters and homebuyers and a chronic shortage of housing in the Big Apple.

 

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