“The June 2023 ESI again asked respondents to identify the share of full-time positions across their organization that are currently open. The responses indicate an improvement in the number of open positions that are impacting communities.
“In the Wave 49 survey, respondents were asked when their organization expected to return to pre-pandemic occupancy levels. Across all care segments the most common response was for occupancy to return at some point in the first half of 2023. Independent living (52%) and memory care (53%) operators were the most optimistic respondents, with more than half anticipating their organization’s occupancy levels would return to pre-pandemic levels within the next six months.
This article originally appeared in the “Emerging Trends in Real Estate® 2023” report issued by the Urban Land Institute and PwC. Data cited in article as of original publish date; more current data may be available. Major factors influencing senior housing continue to evolve. Some trends are well known while others are still developing. In 2022 and into 2023, trends for senior housing include the following:
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.