September 9th - 2013

Market Watch: Baby boomers look to downsize

A majority of REALTORS® say their clients between the ages of 48 and 67 are searching for smaller properties, according to a June survey.

A majority of REALTORS® say their clients between the ages of 48 and 67 are searching for smaller properties, according to a June survey. Members were asked, “Generally speaking, what types of properties are your baby boomer clients seeking?” Multiple responses were permitted, and a majority (61%) said their clients were seeking smaller houses such as bungalows. Almost half (47%) included condos or apartments, 25% included investment properties, 22% included land or cottages, and 21% included townhouses. Only 15% of respondents said their boomer clients sought larger homes. More than 900 REALTORS® did the survey conducted via the OREA research panel.

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