SCOTTSDALE, AZ—The healthcare industry was truly tested by the pandemic and highlighted the growing desire for better care delivery and easier patient access. Both of these desires contributed to the growth of healthcare real estate. In a recent session at the GlobeSt. Healthcare Real Estate national conference here in Scottsdale, AZ, keynote speaker John Chang, SVP and national director of research services at Marcus & Millichap, explored industry shifts, demographic changes and the key trends that will continue to dominate the healthcare industry.

"Vaccinations unlocked economic acceleration but new variants prove we are not in the clear yet," explained Change. When you look across the country, each state and each city is experiencing a unique reality, he noted and as you talk about CRE and the economy across the US, it gets lumped together but if you look at the details in New York, California and other places, every state is coming up with its own rules and that has a big impact, he noted. 

"The business climate in New York is still 10% below where they were before the pandemic, conversely, Salt Lake City is up about 4% total employment before they were before the pandemic. Phoenix is also net positive and there are many cities that are net negative," he explained. "As you look around the climate across the country, each area requires its own deep dive."