“The momentum continues” for senior housing, according to The National Investment Center (NIC), which foresees a projected occupancy recovery in 2024. In a blog that provides a glimpse into the industry’s post-pandemic recovery, NIC says primary and secondary markets alike are experiencing an upward trend in occupancy, “signaling the public’s renewed trust and confidence in senior housing establishments.”

New data have demonstrated a strong recovery, according to the organization. The market experienced 10 consecutive quarters of positive absorption, with the rate of absorption outpacing the rate of new inventory. In fact,  seven of the last 10 quarters have delivered the highest volume of absorption (the net change in occupied units) in the entire history of the NIC MAP data collection.

One of the most notable achievements in the current senior housing sector is the significant increase in occupied units. Recent findings from NIC MAP Vision show that the number of occupied units has not only returned to pre-pandemic numbers but surpassed them. "While it may have taken two years to regain the number of occupied units lost in the first year of the pandemic, the industry has cleared that hurdle, with no signs of slowed growth anytime soon," NIC says.

To read the full blog, “The Resurgence of Senior Housing,” and related resources, click here