‘Not the right time’: Retirees delay downsizing plans as housing market slumps

A city street with homes.

The kids are moved out and all that extra space in the house just isn’t worth the upkeep.

It’s an opportunity to move somewhere a little more practical, maybe a condo or bungalow, and bank the savings.

For many, that was the ideal retirement plan. But for now, it may not be a realistic one.

Real estate watchers say plans to downsize are on hold for plenty of retirees as the population contends with challenges such as falling home prices and a lack of choice in the market.