Market Trends | NIC MAP Vision | Senior Housing
By: Omar Zahraoui | September 12, 2023
Senior housing all-occupancy is on track for a ninth consecutive quarterly gain, with a half percentage point increase in the first two months of the third quarter of 2023, i.e., July and August. The all-occupancy rate for senior housing for the 31 NIC MAP Primary Markets edged up to 84.2% in the August 2023 reporting period, up 0.1 percentage points (pps) from the July 2023 reporting period on a three-month rolling basis, according to intra-quarterly NIC MAP® data, released by NIC MAP Vision. From its pandemic record low of 77.8% in June 2021, senior housing all-occupancy increased by 6.4pps and is now 2.9pps below pre-pandemic March 2020 levels of 87.1%.
Actual Rates | Business Environment | NIC MAP Vision
By: Omar Zahraoui | September 08, 2023
Data from the recently released 2Q 2023 NIC MAP Vision Actual Rates Report showed growth for asking rates was at near-record highs on a year-over-year basis for all three care segments (independent living, assisted living, and memory care) for the data contributors to this data collection. In the recently released report, monthly data of actual rates and leasing velocity are presented through June 2023, including data on rate discounting and move-in/move-out trends. Key takeaways from the report, specifically from the Segment Type report, are presented below. Care segments refer to the levels of care and services provided to a resident living in an assisted living, memory care or independent living unit.
By: Omar Zahraoui | August 10, 2023
The occupancy recovery for senior housing will likely be sustained during the near-term given current supply and demand conditions.
By: Omar Zahraoui | July 21, 2023
Data is more prevalent than ever, but are you confident that you know which data to focus on and how to pull insights from the data to make the best business decisions? If not, I encourage you to join me and other peers at the NIC Data & Analytics Conference.
