Across the U.S. in May, calendar occupancy was about 1% lower than in 2023, and 6% lower than in 2022. Supply of available rentals has also increased across the country. When supply growth outpaces demand growth, occupancy decreases.
Looking forward through July, calendar occupancy is pacing slightly behind last year: by 3% in June and 1% in July. However, August calendar occupancy is pacing 2% ahead of last year. This suggests we may finally be returning to pre-pandemic trends. As we head into the summer season, ensure your marketing and rate strategies are in line to optimize returns.