Jun
19

Senior Housing Construction Slows, But Not Assisted Living

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While recent data show senior living construction starts have decreased by 65% in the first quarter of this year compared to the same quarter last year, senior housing experts say increasing occupancy rates, expanding demographics and other indicators reveal a formidable future for the senior housing industry.

“Construction activity has moderated slightly, which might be weather-related, but there is a lot of capital in the sector, so we’re expecting there will be more product coming into the market as we go forward,” said Beth Burnham Mace, chief economist and director of capital markets for the National Investment Center for the Seniors Housing & Care Industry (NIC), during a recent webinar hosted by National Real Estate Investor.

Assisted living’s expected supply increase and absorption rates over the next four quarters outpace those of independent living, data show.

“In assisted living the dynamics are considerably different, there’s much more supply and demand than in independent living,” said Chris McGraw, senior research analyst with NIC.

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