The effect of the national economy on the local market
The state of the local market and the national economy will also play a huge role in the GAR a vacation home can generate . So let ’ s take a quick contemporaneous look — but with the understanding that this information will feel a bit stale as time goes by .
Over the past few months , there has been steady talk of a looming recession . Current predictions run the entire spectrum — from a deep and prolonged recession to a short and shallow slowdown to no recession at all .
So far , this ongoing speculation , as diverse as it is , has had a minimal effect on the Emerald Coast and Forgotten Coast markets .
Current numbers with regard to Occupancy for Summer 2023 are slightly behind those for Summer 2022 . The GAR for our homes is expected to come in slightly lower as well . Last year we noted an increase in last-minute bookings and saw smaller booking windows . We expect the same for this year .
Bookings for 2023 are pacing nicely throughout our brands , and we are seeing an increase in reservations for early 2023 in particular . The takeaway : Based on our overall pacing data for the Emerald Coast market at this point in time , we anticipate rates and occupancy for 2023 to be remarkably similar to last year .
Have Questions ?
If you ’ re looking to invest in a vacation home rental here on the Emerald Coast or Cape San Blas , drop us a line . We can put together a rental revenue projection and offer insight that may help you along in the process . It ’ s an extraordinary time to be in the vacation rental space . And the feeling among many in the industry is that this is only the beginning .
– Alex Curry Director of Business and Development 360 Blue
Vacation Rental Coastal Living Beach L i fe 17