More seniors using retirement communities

More older Americans are moving into senior communities.

A report from the National Investment Center for the Seniors Housing & Care Industry showed that more senior citizens moved into senior housing during the first quarter.

The occupancy rate average for senior housing complexes increased to 88.4 percent, according to the report. This was an overall rise of 0.2 percentage points compared to the previous quarter, as well as a 0.8 percentage-point jump year-over-year. Occupancy levels have increased in each of the past eight quarters. As of the most recent information, the figure is 1.3 percentage points higher than the 87.1 percent recorded during the first quarter of 2010.

More specifically, independent living properties experienced an average occupancy rate of 88.3 percent, and assisted living properties witnessed an average of 88.6 percent, according to the report. In addition, rent growth dropped to 1.2 percent during the quarter, slightly lower than the 1.6 percent annualized rate during the previous quarter.

The report added that construction was relatively stagnant to start the year. This may aid improvements in occupancy declines, as well as rental increases.

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