NIC anticipates senior housing occupancy recovery to reach pre-pandemic levels in the second half of 2024 and sees owners and operators soon determining when to "jump start" new construction to meet demand.
The current environment of robust absorption coupled with relatively moderate new inventory is driving the momentum, said senior principal Caroline Clapp in the report.
The senior housing occupancy rate for the 31 NIC MAP Primary Markets increased 0.8 percentage points from 84.3% in Q3 2023 to 85.1% in Q4, according to NIC MAP Vision.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
