Over the past 2 years, there has been a steady stream of new supply. Even so, expect to see a further increase in construction starts over the next 12 months.
As active as the market is today, this is just the tip of the iceberg in terms of boomers hitting retirement age. There just aren’t enough places for everybody today.
As well, the available product does not meet what today’s seniors want in terms of the properties, services and amenities.