With more than 1,800 attendees at last week’s NIC Spring Conference, it was the ideal time to ‘take the temperature’ of the stakeholders serving and investing in the senior housing and care landscape.
Attendees were asked, “What is your 2024 outlook for senior housing and care?” to which they selected a response ranging from “Extremely Positive” to “Extremely Negative.” As detailed below, nearly 8 out of 10 attendees responded, “Somewhat Positive” or “Extremely Positive.”
Not surprisingly, there were differences in outlook across various stakeholder groups with developers, lenders, and investor/equity providers expressing a less positive outlook. Given the current conditions related to access and cost of capital, this result was not unanticipated. The average ratings by attendee category are noted below, with the higher the average representing the more positive the outlook.
Despite the differences, in general, the sentiment on outlook is one that is fairly positive. This is an important finding, particularly given the current headwinds facing the sector. Clearly conference attendees remain bullish on the sector despite some of today’s challenges.
One of the additional goals of asking the outlook question was to develop a sentiment index that can be assessed over time as the industry progresses in the months and years ahead. NIC will again survey conference attendees at the NIC Fall Conference and the 2025 NIC Spring Conference to examine industry sentiment over time.