Assisted living inventory growth still not widespread
As assisted living construction activity and inventory growth has been accelerating, it is important to point out that much of this activity still remains somewhat concentrated within select metropolitan markets. Many metropolitan markets have experienced little or no growth during the past year, while a minority has grown quite briskly. As of the second quarter of 2013, 16 of the 31 largest metropolitan markets had their inventory increase by less than 1% during the past year.
While most metropolitan markets have not yet experienced outsized inventory growth, five of the 31 largest metropolitan markets have grown by more than 5% during the past year. These metropolitan markets include Minneapolis, Dallas, Kansas City, St. Louis and Houston. During past year, St. Louis and Houston have experienced the most assisted living growth at 9.4% and 12.8%, respectively.
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