The US housing market is showing no signs of slowing down as investors continue to pour into the market, with the number of listings for condos on Airbnb rising by more than 4,000% since July 2018, according to a new study.
In addition to the US market, Canada has also seen an increase in listings, with an increase of more than 5,000%.
According to the study, the surge in listings comes as Airbnb and other virtual properties continue to become increasingly popular in the region.
While there is no definitive data to show which countries are seeing the highest increases in listings on Airbnb, it is widely believed that some countries are benefiting from the popularity of the virtual travel agency.
The report also found that many properties have been selling for more than $200,000.
“With an influx of listings from overseas, it may be time for some of us to consider a return on investment (ROI) for a property,” the report stated.
“In the meantime, it’s time to invest in a condo or other housing investment, particularly if you have a young family, or have other disposable income needs.”
As of this writing, there are more than 10,000 listings for condo units on Airbnb.
The report further explained that the number for the US has increased by more the last year than anywhere else, with listings increasing by more 7,000%, while Canada saw an increase by almost 4,500%.
The report concluded that the growth of listings is due in part to the increased demand for the luxury condos.
“These listings have become an important part of the millennial luxury lifestyle, particularly as they have increased the price of luxury condominiums in the last two years,” it said.
According to Airbnb, more than 8.6 million US properties are currently available for rental, and there are approximately 9,400 Airbnb properties that have been rented out in the US.
The increase in Airbnb listings is not surprising considering the popularity, but it is important to keep in mind that this is only a snapshot of what is currently available to renters, according Airbnb.
“There are many other housing types on Airbnb that may not be in demand,” it added.
“We expect the market to continue to improve over time, and it is still possible that demand for luxury condos may drop, especially as millennials become more used to renting and sharing.”