As per the article, the overall occupancy rate in assisted living has remained the same, holding at 88.4 percent, for the third successive quarter, although the number of occupied units increased slightly (a mere 0.4 percent) over the previous two quarters.
Independent living rates have increased during the past two quarters though; currently, occupancy in this segment of the senior living industry is at 87.7 percent.
Experts anticipate that the pace of growth in assisted living is likely “to accelerate to twice the current level” in the remaining two quarters of 2011, which may activate “downward pressure” to occupancy. While this rapid inventory growth may only be temporary, experts agree that more favorable gains to future assisted living occupancy rates are highly feasible.
Another article in this latest version of the Senior Living Executive takes a closer look at what is to come for assisted living in the balance of the year. At the moment, there are 2,300 assisted living units scheduled for completion by year’s end, representing a 1.5 percent increase in annual inventory growth; analysts predict that if absorption levels stay the same, occupancy rates will hold steady through the rest of 2011.