NIC Notes

Insights in Seniors Housing & Care

Business Environment  |  COVID-19  |  Senior Housing  |  Workforce

Employment Surges by 678,000 Positions in February, Despite Omicron

By: Beth Mace  |  March 07, 2022

The Labor Department reported that nonfarm payrolls rose by 678,000 in February 2022. This was stronger than market expectations of an increase of 423,000 and occurred despite the impact of omicron on the economy. Revisions added 92,000 to total payrolls in the previous two months. Nevertheless, nonfarm payrolls were still down by 2.1 million or 1.4% from their pre-pandemic level in February 2020.

Business Environment  |  Market Trends  |  Senior Housing

Senior Living Valuations: What’s the Outlook?

By: NIC  |  February 15, 2022

Stakeholders at 2021 NIC Fall Conference weigh in on the latest trends. Considering the dramatic impact of the pandemic on senior housing and care, it’s surprising how well valuations have held up over the last two years. Investors like what they see. The worst seems to be over as the Omicron variant subsides. Occupancy is recovering. Demand is projected to only get stronger from pent-up demand in the near-term and demographic trends in the longer term.

Business Environment  |  COVID-19  |  Executive Survey Insights  |  Skilled Nursing Tracker

Executive Survey Insights Wave 37: January 10 to February 6, 2022

By: Lana Peck  |  February 10, 2022

The spread of the COVID-19 Omicron variant (and seasonality) had a moderate impact on the pace of move-ins. While the pace of move-ins slowed during the Omicron surge, residents were not leaving out the back door of communities at the same rates that they did earlier in the pandemic. Respondents with nursing care beds cited lack of available staff, fewer hospital discharges due to COVID-19, and the holidays as reasons for a deceleration in the pace of move-ins. Notably, between 70% and 80% of organizations reported no change in the pace of move-outs, indicating that most residents have remained in their communities.

Business Environment  |  Market Trends  |  Senior Housing  |  Skilled Nursing

New Senior Housing Construction Loans Increase and Other Key Takeaways from 3Q21 NIC Lending Trends Report

By: Anne Standish  |  February 09, 2022

The just released 3Q2021 NIC Lending Trends Report shows issuance of new senior housing construction loans jumped in the third quarter of 2021. The increase occurred despite challenges facing new development such as supply chain disruptions, high demand, and rising prices for materials, services, and labor. This indicates that keen interest in new construction and development is returning, reversing the slowdown in lending activity seen earlier in the pandemic.