NIC MAP Data and Analysis Service
In this Issue of NIC MAP Insights
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Further Evidence of the Stabilization of Occupancy Rates Data recently released by NIC MAP® suggests stabilization of occupancy rates may have occurred in 3Q09, with some sectors of seniors housing (IL plus AL properties) seeing the first improvements since 2007. NIC MAP recently conducted research suggesting that the declines in occupancy experienced were not distributed uniformly between properties, with properties previously in the 25th percentile for occupancy being impacted much more in terms of declines than properties which were near the median or 75th percentile. This naturally suggests the question, has this stabilization of occupancy been across the board, or heavily weighted to a single group of properties? To investigate this hypothesis, we can once again examine movement in occupancy percentiles to determine if this upward movement is uniformly or more centrally distributed.  After conducting this analysis, it is clear that there was upward occupancy movement for the 25th percentile, median and the 75th percentile in seniors housing. In 3Q09, occupancy increased 24 basis points (bps) for the 25th percentile and 42 bps for both the median and 75th percentile. While there was a slight upward bias for the median and 75th percentile, there is evidence that occupancy increased fairly uniformly across seniors housing properties. Further exploration of occupancy rates show a significant proportion of properties reported an increase in occupancy from 2Q09 to 3Q09, although occupancy is still down versus 3Q08 for most properties. In the past quarter, 40% of reporting properties showed an increase in occupancy against 32% reporting a decline and 28% reporting occupancy remaining unchanged from 2Q09 to 3Q09. This is encouraging when comparing these proportions with what has happened in the past year, with higher proportions of properties reporting either occupancy remaining unchanged or increasing.  It will be important to monitor these developing trends for more insight in the underlying patterns of occupancy rates within seniors housing properties as well as to determine over the next several quarters whether we are seeing the beginning of the recovery for occupancy rates. |
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NIC MAP to Move Quarterly Reporting Period up by 30 Days With the publishing of 1Q10 data, NIC MAP will be moving its quarterly reporting up by 30 days. This will be accomplished over the course of the 4th quarter, 2009 and the 1st quarter, 2010. “We have decided to move the reporting period up to accommodate companies who have asked NIC MAP to provide comparative occupancy and rent growth data for their quarterly reviews,” said Michael Hargrave, VP – NIC MAP. The tentative publishing times are listed below:  MAP Portfolios Currently in Beta Testing The NIC MAP team is hard at work in the development of the new “MAP Portfolios” module. MAP Portfolios will be available to those owners and operators who contribute their data to NIC MAP. The Portfolio report will allow companies to benchmark their individual properties against a selected customized set of competitive properties. Once the competitive set is selected for each property, a portfolio report can be produced in a standardized format. “This is an exciting new tool and report,” said Casey Moore of Red Capital Group, and the NIC MAP Task Force Co-Chair. “While owners and operators should, and do, conduct competitive occupancy and rent comparisons, the NIC MAP data will provide an objective comparison that is produced by a non biased third party.” CLICK HERE to see a sample report generated by MAP Portfolios. For more information or to participate in beta testing, please contact Amber Jacobs at (410) 267-0504. |
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4Q09 Data Release & Subscriber Webcast Tuesday, February 16 11:00 a.m. - 12:00 p.m. EST Please contact Amber Jacobs to register. |
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Contact Us
To learn more about the NIC MAP Data and Analysis Service, please visit www.nicmap.org, or contact Michael Hargrave, Vice President - NIC MAP, at mhargrave@nic.org.
If you have questions regarding your current NIC MAP subscription or if you would like to add additional users to your account, please contact Amber Jacobs, NIC MAP Subscription Services Manager, at ajacobs@nic.org.