BILD analyzed move-in and move out trends across senior living communities in Q3-2024. This white paper focuses on move-ins and their sources, move-outs and their reasons, and the average length of stay. This study targets multiple states in the U.S. Below is the executive summary and key findings.
Target: 20 different States – 9 U.S Regions
Time Periods Data Analyzed: 7/1/2024 – 9/30/2024
Data Reviewed: Move Ins, Move Outs, and Average Length of Stay
Below is a summary of the key findings:
- The most common move-out reason reported in Q3-24 (excluding death) is residents needing higher level of care – roughly 18.2% of move outs.
- Move-ins originated substantially from internet/website sources (26.8% of move ins), and Paid Sources/APFM encompassing 21.3% of all Q3-24 move-ins.
- The average length of stay for a resident in 2023 was 682 days and decreased in Q3-24 to 583 days.
- Independent living had an inquiry to move in at 145 days while the average length of stay was 1002 days.
- Assisted living and Memory Care had an inquiry to move in at 95 days while the average length of stay was 523 days.
- Regarding the number of days from inquiry to tour, in Q1-24, the average number of days from inquiry to tour is a bit higher than 2023 at 87 days. Then gradually increased in Q2-24 to 88 days and increased again to 96 in Q3-24.
- In 2023 we saw 170 days from inquiry to move in. Looking back to Q1-24 there was 153 days from the time of inquiry to move in and it increased to 164 in Q2-24 and then 178 days in Q3-24.
