More than 2,800 owners, operators, and related industry professionals attended the 2024 NIC Fall Conference in Washington, D.C. The conference provided the ideal opportunity to ‘take the temperature’ on the general outlook and industry sentiment among those working in and investing in the senior housing and care sector. Beginning with a poll at the 2024 NIC Spring Conference, and replicated at this year’s Fall Conference, all attendees were asked to respond to the question, “What is your overall outlook for senior housing and care across the next year?” Roughly 2,600 individuals provided their feedback.
Poll results showed the average overall outlook is positive, coming in at 4.14 (1=extremely negative; 5-extremely positive). This is slightly above the NIC Spring Conference average rating of 4.11. Not surprisingly, the ratings varied depending on the respondent type. The lowest ratings came from lenders and debt providers, similar to the pattern that emerged at the spring conference. Despite this lowest ranking across all groups, the 4.0 translates into a “positive” outlook for the months ahead. In March, the lenders and debt provider responses averaged 3.8.
These ratings support the general sentiment shared by conference attendees anecdotally as well as by speakers across various sessions. It has been a difficult environment over the past few years with the pandemic followed by inflationary pressures and capital challenges. With the recent rate cut by the Federal Reserve, projected future rate reductions, and significant demand dynamics driven by the aging demographic, many continue to see brighter days ahead. These NIC poll results support this sentiment.
Many thanks to everyone who attended the 2024 NIC Fall Conference and who took the time to respond to the poll.