Occupancy passes 90%
Seniors housing stock enjoyed occupancy rates above 90% in the third quarter, the National Investment Center for Seniors Housing & Care announced. Occupancy is up 3.4% since the cyclical low of 86.9% seen in the first quarter of 2010.
Charles Harry, NIC's managing director and director of research and analytics, said the uptick reflects rising demand that is more than compensating for moderate inventory growth.
“The primary markets realized record absorption during the quarter, as the number of occupied seniors housing units increased by nearly 5,000,” he said.