New REMAX Canada research suggests a long-term “downsizing wave” could be on the horizon in Canada’s housing market, as the aging population looks toward the future and considers their next move. However, survey findings suggest the shift could unfold gradually, as limited availability of suitable homes continues to delay movement among older homeowners.
According to a 2024 Statistics Canada report, approximately 7.74 million Canadians are over 65 right now, accounting for almost one-fifth (18.9%) of the total population. By 2030, this number will increase to almost 25%. This aging demographic is expected to drive a downsizing wave, as more older homeowners consider how and where they want to age. While this shift may not create a sudden surge in listings, it has the potential to change the housing landscape, reshaping the types of homes coming to market and creating new opportunities for younger Canadians, said REMAX.
“While downsizing won’t happen all at once, the direction is clear,” said Don Kottick, President of REMAX Canada. “Canada’s aging population will undoubtedly shift demand and availability of housing over time, but progress will depend on improving access to housing that meets seniors’ needs.”
Don Kottick
According to a REMAX Canada survey, nearly half of Canadians (49 per cent) report low availability of downsizing housing options in their communities, with an additional eight per cent indicating no availability. Perceived constraints are more pronounced among older Canadians, with 65 per cent of those aged 65 and over reporting low or no availability.
Only 10 per cent of Canadians say they plan to move to a smaller home over the next 10 years. The number of intended downsizers is higher among those aged 65 and older, at 16 per cent, while 46 per cent plan to remain in their current homes. Among those considering downsizing, 73 per cent expressed concern about their options, including 32 per cent who are very concerned, explained REMAX.
More Canadians (34 per cent) believe an increase in downsizing by older homeowners would make it easier for younger buyers to enter the market, compared to 26 per cent who believe it would make it harder, while 29 per cent say it would have no real impact. This suggests any potential benefit for younger Canadians could depend on how housing supply evolves, it said.
“We’re seeing many homeowners who would consider downsizing, but they’re struggling to find suitable options in their communities,” said Kottick. “Without sufficient inventory to support these transitions, many are choosing to stay in their homes longer, which limits movement of younger buyers across the market.
“Downsizing is an important factor in the natural churn of the housing market, and headway will depend on improving access to appropriate housing options for older Canadians. Without it, our research indicates that many homeowners may delay or abandon their moving plans entirely, further constraining the flow of inventory into the market.”
Meanwhile, at the other end of the age spectrum, demand is expected to continue rising, with 23 per cent of Canadians aged 18 to 34 planning to buy their first home in the next decade, added the real estate company.
Mario Toneguzzi
Mario Toneguzzi is Managing Editor of Canada’s Entrepreneur. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 and 2024 as one of the top business journalists in the world by PR News. He was also named by RETHINK to its global list of Top Retail Experts 2024, 2025 and 2026.
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