NIC Notes

Insights in Seniors Housing & Care

Economic Trends  |  Seniors Housing  |  Workforce

273,000 Jobs Created in February, Providing a Solid Footing for an Economic Shock

By: Beth Mace  |  March 09, 2020

The Labor Department reported that there were 273,000 jobs added in February.  This was more than the consensus estimate of 175,000 and marked the 113th consecutive month of job gains. For all of 2019, average monthly gains were less at 178,000. For 2018, monthly gains averaged 193,000 and for 2017, monthly gains averaged 176,000.  The latter data points were revised from prior estimates.   

Market Trends  |  Seniors Housing

Looking Below Headline Occupancy Metrics:  A Focus on Las Vegas

By: Beth Mace  |  March 04, 2020

Las Vegas ranks 31st of the NIC MAP® 31 Primary Markets in size, with roughly 4,400 units situated in 36 properties. In the fourth quarter of 2019, it had a seniors housing occupancy rate of 84.1%, fourth lowest among the 31 markets (Phoenix, Atlanta and Houston were lower). Stabilized occupancy was considerably higher at 88.9%, pushing its rank to 20th among the Primary Markets, and Las Vegas’ median occupancy rate was even higher at 91.3%, giving it a rank of 18th among the Primary Markets. The wide disparity in occupancy rates reflects both the large number of units recently opened but that remain empty and some properties with very low occupancy rates that are dragging down the average.

Economic Trends  |  Seniors Housing  |  Workforce

225,000 Jobs Created in January, Above Consensus View

By: Beth Mace  |  February 07, 2020

The Labor Department reported that there were 225,000 jobs added in January. This was more than the consensus estimate of 165,000 and marked the 112th consecutive month of job gains. For all of 2019, average monthly gains were less at 175,000. For 2018, monthly gains averaged 193,000 and for 2017, monthly gains averaged 176,000. The latter data points were revised from prior estimates.

Market Trends  |  Seniors Housing

Five Key Takeaways from NIC’s Fourth Quarter 2019 Seniors Housing Data Release

By: Beth Mace  |  January 22, 2020

NIC MAP® Data Service clients attended a webinar in mid-January on the key seniors housing data trends during the fourth quarter of 2019. Key takeaways included the following: