August senior living move-ins increased more than 95% compared with April, whereas move-outs compared with a year prior were approximately 25% lower. That’s according to a report released last week from Denver-based Enquire. Whether these improvements can be attributed to pent up demand or are a signal that people are beginning to take their lives off pause will be determined as the industry moves into the fourth quarter, the firm said.
Overall, senior living experienced a 13% drop in inquiries, a 34% drop in initial tours and a 21% drop in move-ins in August compared with last year. But inquiries were up 56% from April, and move-outs declined by 25% compared with a year ago. Move-in averages also increased more than 95% between April and August, the firm noted.
Enquire anticipates sales and marketing metrics will continue to improve as uncertainty wears off, specifically for assisted living and memory care communities. Both settings should rebound more quickly due to their more specific care focus.
The firm aggregated actual sales and marketing data from more than 2,200 senior living communities offering independent living only, independent and assisted living, assisted living, assisted living and memory care, and stand-alone memory care communities.