September 16, 2013
Market: U.S.
Continued recovery in the housing market is benefiting just about everyone – especially seniors, who throughout the country are selling their homes to move into multifamily housing facilities. As reported by CoStar, senior multifamily properties (including assisted living facilities) have seen a 35% annual increase in sales volume, from $1.18 billion last year to $1.59 billion in 2013. Per-unit sales prices, meanwhile, have seen dramatic decreases, falling from $88,000 in 2011 to $58,000 now.
So what does this all mean? Demand for senior housing facilities has seldom been higher, and investment companies are jumping on the trend. If multifamily demand in the 65+ demographic can keep up with growth forecasts, investment companies across the country stand to profit.
Read more at CoStar.com.
HZ Connection 