Part 1 in a multi-part series released by Mustel Group and Sotheby’s International Realty Canada uncovers trends related to aging and its impact on the housing aspirations, expectations and realities of baby boomers and older adults across the country’s major metropolitan real estate markets. The report also highlights the gap between this cohort’s desire to age in place in their current homes, and their expectations and plans to sell and move to another primary home during their lifetime.
Mustel Group and Sotheby’s International Realty Canada’s “2020 Generational Real Estate Trends Report: Aging in Place” revealed that while 86% of baby boomers/older adult homeowners in Canada’s key metropolitan areas want to live in their current home for as long as possible, 36% are likely to sell their current home and move to a new primary residence within their lifetime.
About this release:
The results are based on an online study conducted from August 7th to 16th, 2019. A total of 1,764 baby boomers and parents of baby boomers were surveyed, using a disproportionate sampling method to enable analysis within each metropolitan area, as well as across the combined metros (Census Metropolitan Areas, CMAs). The data has been statistically weighted to match Canada census on the basis of age, household income and home ownership within each CMA and to bring the total sample into proper proportion based on relative populations.
The margin of error on a random probability sample of 1,764 respondents is ±2.33 percentage points, 19 times out of 20, and ranges from ± 4.38 to 4.9 points for 400-500 respondents.