NEW YORK: Whilst national rates of construction have been accelerating, most markets are experiencing modest active development. While not quite the 80/20 rule, the 20 most active markets represented 60 percent of overall seniors housing construction in the top metro markets during the first quarter, highlighting construction is concentrated within select markets.
Most markets have manageable levels of new construction, with several having no construction at all. More than half of the top markets have rates of construction of less than 4 percent, including 18 markets with no construction and many other markets with only a single property under construction.
Even within markets with multiple new properties under construction, unless they are in immediate proximity they likely won’t be in direct competition with each another. Properties that are more than 10 miles away from another typically wouldn’t be competing for the same residents…