In the first quarter of 2025, censuses remained stable overall, with a slight dip in February. This was, however, followed by a rebound in March with an increase of 1.58% over the previous month. Inquiries also fluctuated, with a drop in February and a recovery in March, indicating an improvement in lead generation.
Initial tours followed a similar pattern, decreasing in February and improving slightly in March. Move-ins were the lowest in February, but increased by 16% in March, showing momentum building towards the end of the quarter.
Despite the decrease in move-ins, the number of move-outs also decreased between January and March. This contributed positively to the overall first quarter census. There is, however, still a need for revitalized efforts in outreach as the activity completion rates for both inquiries and marketing steadily declined.
Overall, Q1 2025 showed a resilient recovery in key occupancy indicators by March, despite financial and activity related headwinds.
