First-quarter data showed continued downward pressure on occupancy rates, with assisted living occupancy falling to its lowest level since NIC began reporting data in 2006—85.7%. A broader measure, the occupancy rate for all of seniors housing (independent and assisted living) for the 99 Primary and Secondary markets tracked by the NIC MAP® Data Service, had a first quarter occupancy rate of 88.1%, not the lowest on record, but a nadir since mid-2011 and down from 90.0% as recently as Q4 2015. During the nine quarters since then, inventory growth has exceeded demand by 23,000 units (70,000 units of inventory growth versus 47,000 units of net absorption).
This month, NIC, in a strategic alliance with PointRight, is announcing the launch of quality metrics for the skilled nursing sector. This major expansion and enhancement within the NIC MAP® Data Service platform reflects NIC’s commitment to the skilled nursing sector and builds upon NIC's present Skilled Nursing Data Report, which focuses on financial data.