Senior housing occupancy ticked up modestly in the first quarter, rising 0.2 percentage point from fourth quarter numbers across 31 primary markets tracked by NIC MAP.
The increase marks the third consecutive quarterly increase in occupancy, and the Q1 level is 2.5 percentage points above the pandemic low of 78% recorded in Q2 2021. It is, however, 6.7 percentage points below pre-pandemic levels in the first quarter of 2020.
The data, reported by NIC Analytics researchers in a recent webinar, is "encouraging" in light of COVID, experts said. But they also underscored that more than six percentage points need to be recovered for seniors housing to fully rebound. Nursing home occupancy is the furthest behind pre-pandemic levels of all sectors within the asset class.
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