State of Senior Housing in NIC MAP Primary Markets
After four consecutive quarters of occupancy growth, senior housing is on a steady recovery from the worst point of the pandemic. As of the latest NIC MAP Vision quarterly data release (2Q22), the 31 NIC MAP Primary Markets have now recovered roughly 37% of their lost occupancy.
While there is still room to grow until pre-pandemic levels are met, NIC data analyst Omar Zahraoui investigates the primary factors affecting the recovery.
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Using 2Q22 market fundamentals data, Zahraoui paints the picture of recovery by examining the following:
- Senior housing demand
- Inventory growth
- Construction pipeline
- Markets with the lowest occupancy
- Markets that have nearly fully recovered
- Markets with the highest rates of construction