February 2023 Update on Senior Housing and Census Operations

Inquiry and tour volume in February dropped below the six-month highs seen in January, but both still outperformed last year with 18% more inquiries and 6% more tours than in February 2022. Census showed similar trends with an increase of 7% from the same time last year, but a slight decline from the last six months. It took 15 more days to convert tours to move-ins in February than it did in January, while move-in and move-out activity were both the lowest in six months. Cash was relatively stable, showing only a slight drop from prior months and a more than 13% year over year improvement. In comparison to 2022, marketing outreach was up 68%, with activity levels similar to January of this year. Activities related to Inquires has remained consistent for the last several months, but February totals were over 8% below 2022. Month over month comparisons of resident care needs and care revenues shows little fluctuation since last September, however the year over year care revenues for that same period have averaged almost 35% higher. February totals for room revenues revealed the lowest percentage year over year increase in recent months. Other recurring monthly charges in February doubled from January, outperforming 2022 revenues by over 63%, and ancillary service fees were still more than 43% above February of last year.

February 2023 Senior Housing Census and Operations Update Text Graphic
Go to Top