The NIC MAP® Data Service recently released national monthly data through June 2020 for actual rates and leasing velocity. In this release, NIC also provided data on three metropolitan areas for which there is enough data to report: Atlanta, Philadelphia, and Phoenix.
In mid-July 2019, I had the pleasure of attending the 10th Annual NELS Summit in Washington, DC. NIC is a proud co-sponsor of the three-day event, where emerging leaders in health and aging services can connect with peers, develop their leadership skills, learn about advocacy, and network with industry leaders. The majority of NELS attendees hold Executive Director or Administrator positions at skilled nursing facilities, assisted living and independent living communities, CCRCs, rehabilitation hospitals, affiliated organizations, and home- and community-based services.
It’s no secret that the U.S. population of seniors living with dementia is expected to grow in the coming years and thus the demand for memory care (MC) services is expected to increase as well. As a result of anticipated demand, there has been notable growth in memory care units, especially between 2011 and 2016. This has occurred in freestanding memory care properties as well as in properties that offer memory care as part of a continuum of service offerings. This blog post explores these trends and looks at how well demand has held up and its resulting effects on occupancy. Read further for a deeper dive into memory care in the Primary Markets.
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.