NIC Notes

Insights in Seniors Housing & Care

Skilled Nursing  |  Skilled Nursing Tracker  |  Workforce  |  staffing

Skilled Nursing Staffing Shortages May Have Peaked but Cycle Continues

By: Omar Zahraoui  |  October 13, 2022

With wage inflation and continued labor market challenges and shortages, skilled nursing operators and owners face steep competition relative to other industries (i.e., indirectly from other service industries such as hotels and restaurants) especially those operating in regions and states where broad labor availability is tight and employer demand is high. Additionally, amid generally low occupancy levels, skilled nursing owners and operators face challenges over the long term with new and proposed staffing mandates and requirements.

Business Environment  |  Market Trends  |  NIC MAP Vision  |  Senior Housing

Senior Housing Units Vacated During Pandemic Near Full Recovery on Net Basis

By: Omar Zahraoui  |  October 06, 2022

According to quarterly NIC MAP® data, released by NIC MAP Vision, demand, as measured by the change in occupied units, largely outpaced new supply while marking its sixth consecutive quarter of positive increases, with a net absorption gain from the prior quarter of more than 8,700 units, or 1.6% for the NIC MAP Primary Markets. This advance pushed the share of senior housing units vacated during the pandemic that have been re-occupied to near-full recovery (95%). If this pace of demand growth continues into the next quarter, senior housing may soon start filling new inventory added during the pandemic, on a net basis.

Economic Trends  |  NIC MAP Vision  |  Senior Housing  |  occupancy

State of Senior Housing: The Trifecta Shaping the Occupancy Recovery

By: Omar Zahraoui  |  September 12, 2022

During four consecutive quarters of increasing occupancy, from 78.0% in the second quarter of 2021 to 81.4% in the second quarter of 2022, the NIC MAP® Primary Markets recovered about 37% of the senior housing occupancy lost during the pandemic, equivalent to 3.4 percentage points (pps) overall.

Business Environment  |  CCRC  |  Market Trends  |  NIC MAP Vision  |  Senior Housing

CCRC Care Segment Performance 2Q 2022

By: Omar Zahraoui  |  August 18, 2022

The following analysis examines occupancy and year-over-year changes in inventory, and same-store asking rent growth—by care segment—within CCRCs and non-CCRCs in the 99 combined NIC MAP Primary and Secondary Markets. The analysis also highlights occupancy by payment type (entrance fee CCRCs vs. rental CCRCs), and the relative performance of for-profit CCRCs and not-for-profit CCRCs during the second quarter of 2022—by region.

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