REALTOR® in Kelowna Discusses Boomer Control Over Housing Market

Canada’s housing market is always moving and shifting. Much of this evolution, as of late, has been influenced by the Baby Boomer generation. As a REALTOR® in Kelowna, I witness the impact of this demographic every day. Boomers still hold nearly half of the country’s real estate wealth, and that stability continues to shape our market in important ways.

The Transition Is Coming, Just More Gradually

A few years ago, experts predicted a quicker shift in ownership. The expectation was that Boomers would begin selling off homes en masse, increasing supply and easing demand. While that large turnover hasn’t happened yet, it’s not off the table. Instead, it’s just moving at a slower pace.

In Kelowna, many Boomers are still happily living in the homes they’ve built their lives around. These are often mortgage-free properties in communities they know and love. And while it might look like they’re simply holding on, there’s more to the story. Downsizing isn’t always easy. Options are limited, costs can be high, and the emotional pull of a longtime home is real. Add to that a lack of age-friendly housing and a tax system that doesn’t exactly promote moving, and you begin to see why many are choosing to stay put.

Still, change is on the horizon. The oldest Boomers turn 79 this year, and with that, a gradual shift in property ownership is underway. According to the Canadian Professional Accountants, a significant transfer of real estate wealth is expected by 2026. It may not be a sudden wave, but it’s coming through estate planning, family transfers, and more flexible living solutions.

Kelowna’s market, like much of Canada, is at a point of change. With foresight, collaboration, and compassion, we can help guide this transition in a way that supports both longtime homeowners and new buyers.

Contact Your REALTOR® Kelowna

If you want to learn more about the housing market in Kelowna, contact your trusted REALTOR® Kelowna. I would be happy to help you get a better understanding of how the market is shifting in response to generational wealth transfers. Be sure to visit my social media for the latest updates and more. I look forward to working with you in the near future.