NIC MAP® Data Service released its first ever Skilled Nursing Monthly Report on August 31, 2020, which includes key monthly data points from January 2012 through June 2020. Here are some key takeaways from the report:
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.
The Labor Department reported that nonfarm payrolls rose by 1.4 million in August and that the unemployment rate fell to 8.4% from 10.2%. This suggests that the employment recovery from the unprecedented COVID-related drop in March and April continues to reverse course. Eleven million jobs have now been recovered during the May to August period. Nonetheless, the level of payrolls remains about 12 million below where it was in February.
NIC’s Executive Survey of operators in seniors housing and skilled nursing is designed to deliver transparency into market fundamentals in the seniors housing and care space at a time when market conditions are rapidly changing—providing both capital providers and capital seekers with data as to how COVID-19 is impacting the sector.