Senior housing inventory growth is expected to remain tempered heading into 2013 and will vary by market, according to the National Investment Center (NIC) for the Seniors Housing & Care Industry.
Looking ahead to the next four quarters, NIC expects inventory growth across the top 31 market areas (MAP31) to average about 1,800 units per quarter, continuing a trend of tempered inventory growth for the foreseeable future.
Inventory in rose by 1,735 in the third quarter of 2012, on par with the average pace of quarterly inventory growth since late 2009.
Based on scheduled completions in certain market areas, there will probably be “significant variation” in inventory growth in individual metropolitan markets, says NIC.
Eight markets are scheduled to have inventory growth of at least 3% through the third quarter of next year, while 15 markets are schedule for inventory growth of less than 1%.
Denver, San Francisco, and Dallas have the highest rates of scheduled growth, of at least 4% through the third quarter of 2013.
Written by Alyssa Gerace