The COVID-19 outbreak is hurting senior housing.
Senior housing occupancy fell 2.6 percentage points in the third quarter of 2020, from 84.7% to 82.1%, according to new data from NIC MAP Data Service provided by the National Investment Center for Seniors Housing & Care.
This is the second quarter in a row where occupancy fell more than 2.5 percentage points. With two consecutive quarters of deteriorating occupancies, the senior housing sector is now experiencing its largest drop in occupancy on record, according to NIC.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
