The senior living industry added 1.4% of average occupancy in the third quarter of 2021, according to the latest data from NIC MAP Vision, Senior Housing News reports.
The senior living industry hit an average occupancy of 80.1% in 3Q21, representing the first gain in occupancy for NIC MAP’s 31 primary markets since the pandemic began. Pent-up demand was a big reason why, according to NIC Chief Economist Beth Mace.
“The increase in absorption was strong, the largest increase we’ve seen since NIC MAP Vision started reporting the data in 2006,” Mace told Senior Housing News. “I think that speaks to pent-up demand that we’ve seen in the sector … and it portends a good future.” Read more.
