A key topic of conversation among seniors housing investors and operators is the impact of inventory growth on occupancy rates and the ability to grow rents and revenue. Related to inventory growth are rising costs of construction, which may be one factor influencing a slowing of construction activity. This blog highlights some recent data to support those discussions.
Seniors housing…
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NIC MAP® Data Service clients attended a webinar in mid-January on the key seniors housing data trends during the fourth quarter of 2018. Key takeaways included the following:
Takeaway #1: Seniors Housing Occupancy Edges Up, but Remains Soft
The all occupancy rate for seniors housing, which includes properties still in lease up, inched up to 88.0% in the fourth quarter…
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Supply and demand more balanced; occupancy sustained above 90%
In the first quarter of 2018, among the 31 primary markets tracked by NIC MAP, independent living had an occupancy rate of 90.3%, which was about 70 basis points less than stabilized occupancy. Comparatively, assisted living had a differential of 230 basis points, more than three times as large since there…
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