Stats: Senior housing occupancy highest at 83%

Overall, senior housing demand, as measured by the change in occupied units, continued to largely outpace new supply in the fourth quarter of 2022, marking its seventh consecutive quarter of positive increases, with a net absorption gain from the prior quarter of more than 8,600 units, or 1.5%, according to the NIC [National Investment Center for Seniors Housing & Care Senior ] MAP Primary Markets. From its pandemic low in the first quarter of 2021, senior housing occupied stock increased by about 52,200 units and is now above its pre-pandemic 1Q 2020 level. Of note, it took seven quarters to fully recover all the senior housing units vacated during the first four quarters of the pandemic.