The skilled care sector saw occupancy rates and bed supply dip slightly between March and June, new data shows.
The nursing care occupancy rate decreased 0.6 percentage points to 87.9% during the second quarter, according to a market update from the National Investment Center for Seniors Housing & Care. Inventory dropped by 0.04% during the same time.
Meanwhile, the occupancy rate for independent living properties and assisted living properties averaged 91.0% and 88.4%, respectively.
When compared to the prior quarter, each property type’s occupancy had decreased by 0.2 percentage points. Occupancy for independent living was still 0.5 percentage points above year-ago levels, compared to assisted living, which is down 0.3 percentage points from the second quarter of 2014.
“Demand, as measured by the number of units absorbed, recovered from the first quarter’s low levels, but the slip in occupancy shows that the pace of demand did not match new supply,” says Beth Mace, NIC’s chief economist.
From the August 05, 2015 Issue of McKnight's Long-Term Care News
