The skilled nursing sector saw yet another downward trend in the second quarter, this time in the price-per-bed metric as measured by data from the National Investment Center for Seniors Housing & Care (NIC).
For the second quarter of this year, the price per bed for skilled nursing facilities sat at $84,200. Though the price represents a slight increase from the first quarter’s figure of $83,700, it is still down 12.1% from the second quarter of 2017 when it was $95,800, according to a blog post written by NIC senior principal Bill Kauffman.
The seniors housing price per unit, on the other hand, rose to $175,600 in the second quarter, up 4.3% from the first quarter of 2018, when it was $168,300, and up 1.7% from the year-ago period.
For buyers, total dollar volume across all seniors housing and care was $5.1 billion in the second quarter of this year.
“The private buyer has been the most active participant so far, representing almost half of the closed volume (45%), at $2.3 billion through the second quarter of 2018 and averaging more than $1 billion a quarter,” Kauffman wrote. “For comparison purposes, the private buyer represented 34% of total volume in 2017, registering $5.5 billion. However, the private buyer volume did decrease 42% from the first quarter to the second quarter of 2018 from $1.5 billion to $800 million.”
The findings come on the heels of a NIC data analysis that found nursing care had the weakest inventory growth out of multiple seniors housing segments.
Written by Maggie Flynn