Supply, Demand up for vacation rentals this summer

OCEAN CITY, Md.- While many people are starting to travel more, we are told more people may be looking for vacation rentals.

As we know during the the pandemic, travel really slowed.

But we’re told by a broker partner for Coastal Life Realty Group, that it seems like it’s going to be a very busy summer, and it seems like the number of vacation rentals have increased within the last year.

He said this will for sure economically be beneficial for the town, as both the supply and the demand are there.

” Last year we didnt have the J1 students as a result people were kind of panicking or pivoting trying to find a different direction to go in, a lot of those people switched to vacation rentals last year, I think they have found some success as a result they have decided to keep things going,” Joe Wilson, a broker partner for Coastal Life Realty Group, said.

Wilson said there’s a possibility that a lot of people who came down last year that were working remotely, might have to go back to work and as a result he thinks they may turn those homes they were staying in into vacation rentals.