During a recent webinar with NIC MAP clients, the NIC Analytics Team presented findings on key third quarter 2024 senior housing data trends. Morgin Morris, Senior Vice President with KeyBank Real Estate Capital and Jim Dooley, Director with JLL Capital Markets joined Lisa McCracken, NIC’s Head of Research for a conversation on the capital markets, debt lending, and transaction activity.

Key takeaways from the third quarter data included the following:

Takeaway #1: Occupancy Increased for the 13th Consecutive Quarter

Takeaway #2: Occupancy Gap Between Assisted Living and Independent Living Continued to Narrow

Takeaway #3: Senior Housing Occupancy Growth Across All Markets

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

Takeaway #5: Construction Starts Below Inventory Growth

Guest panelists Morgin Morris and Jim Dooley both indicated that there is an increase in optimism within the industry and that they are seeing increased activity with transactions, competitive bidding, lending and even some minor movement with new development inquiries.

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 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.