NIC to deliver market data at local level
Data about local conditions in 30 geographic markets will soon be available four times each year from the National Investment Center for the Seniors Housing & Care Industries (NIC), the group announced today. Information about census levels, supply, demand, pricing, and market shares will be included in the subscription-based service.
Reliable, "transparent" data is needed to attract investors and cheaper capital, according to Bob Kramer, NIC president. Investors and operators will be able to get quick reads on markets that are ripe for development, as well as those that are under- or over-served, he said.
NIC officials see the new service as a bellwether event that will put the seniors markets' information on equal footing with other commercial real estate sectors, such as hotels and apartments.
The MAP effort -- for "Market Area Profiles" -- will initially target the top 30 metro markets, but could expand to 50 in the coming years. Data for the project will be collected and analyzed by ProMatura Group, Oxford, MS. Testing for the program has already been conducted in Detroit, Los Angeles, San Antonio and Tampa.