Senior Housing Occupancy Increases for 12th Consecutive Quarter

The NIC Analytics team presented findings during a webinar with NIC MAP clients on July 18 to review key senior housing data trends during the second quarter of 2024.

NIC Analytics utilized a relatively new webinar format in which the second half featured a deep dive on a special topic. In July’s webinar, Arick Morton, CEO of NIC MAP, discussed trends in Artificial Intelligence and the senior housing outlook with Lisa McCracken, NIC’s Head of Research and Analytics. NIC hopes participants enjoy this new webinar format and welcomes any comments or suggestions.

Key takeaways from the second quarter data included the following:

Takeaway #1: Occupancy Increased for the 12th Consecutive Quarter

Takeaway #2: Occupied Units Continue Climbing to Record Highs

Takeaway #3: Annual Inventory Growth Rate Remained Low

Takeaway #4: Senior Housing Units Under Construction Least Since 2014

Takeaway #5: Construction Activity Still Slow in Most Markets

Interested in learning more?

The data featured in this article derives from NIC’s analysis of NIC MAP’s Senior Housing Market Fundamentals Data Release. NIC MAP Vision clients with access to NIC MAP data also receive an exclusive invitation to a market fundamentals webinar led by NIC’s Research team where they review each quarter’s trends in context with historical data and current events. To get a better idea of what’s covered, watch an abridged version of the webinar. To learn more about NIC MAP data, powered by NIC MAP, and accessing the data featured in this article, schedule a meeting with a product expert today.