NIC survey projects a positive future for the senior living industry
Contemporary Long-Term Care Weekly, February 7, 2007
Occupancy rates among senior living industry providers swung in the right direction in 2006, and the National Investment Center for Seniors Housing and Care Industries (NIC) had the lowdown.
NIC announced its third quarter survey results during its fourth quarter conference call with stakeholders. The survey included 87% of senior housing providers in 31 metropolitan statistical areas with a total of roughly 390,000 beds/units.
In the third quarter of 2006, skilled nursing facilities experienced an 88% occupancy rate, compared to 87% occupancy in 2005 during the same quarter. Assisted living facilities (ALF) and Continuing Care Retirement Communities enjoyed similar gains-both increased occupancy by 1%, jumping from 88.5% to 89.5% for ALFs, and 90.5% to 91.5% for CCRCs during the same time period.
Independent living facilities experienced a 0.5% increase in occupancy, from 92.5% in the third quarter of 2005 to 93% in 2006.
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