Senior housing sector continues to heal
In 2021, the senior housing sector proved its ability to weather the storm from the COVID-19 pandemic. This time last year, operators licked their wounds, took stock of lessons learned and braced for a gradual — albeit slow — recovery. A year later, the larger senior housing sector is very much healing, and doing so in line with predictions.
In first half 2020, with the onset of the pandemic, move-ins began to deteriorate at record numbers as operational expenses shot up. The assisted living sector alone experienced its lowest occupancy rate on record. That has since been turned on its head.
According to a recent intra-quarterly report from the National Investment Center for Seniors Housing & Care, occupancy rates have continued to rise for all senior housing property types, with assisted living seeing the largest increase. Rates began to improve as demand rebounded during summer 2021, and the industry registered its strongest increase in the number of occupi