CALGARY - Family reunions are taking on new meaning in the real estate market, according to recent surveys by Coldwell Banker Real Estate LLC.

A survey of its real estate professionals in both Canada and the United States found that a large percentage have noticed in the past year an increase in homebuyers looking for a property to accommodate more than one generation of their family.

Overall, 37 per cent of respondents said they have seen an increased demand for multi-generational homes, but in Canada the number was 45 per cent.

And in Canada, the real estate professionals cited health-care issues (52 per cent) as the top reason why people would move into a house with other generations of their family.

Financial drivers was second at 45 per cent while less than one per cent cited a strong family bond as the main factor.

John Geha, president of Coldwell Banker Canada, said one of the main reasons in the trend is the aging population fuelled by the Baby Boomer generation.

“Throughout the world, multiple cultures really bring the family back home and are taking care of each other whether it’s the child taking care of the parents or the child taking care of the grandparents,” said Geha. “But also you have the grandparents helping out because you have a dual income household with young children and it makes their concerns of taking care of their children a little more relaxed because they have that family member there.”

Another factor, of course, is the cost of housing and the loss of retirement funds some people may have felt over the financial market meltdown in the past year.

“Now they’re able to pool their resources, pool their funds together and bring their families back home,” said Geha, adding that he has talked to a number of contractors and builders who are making special arrangements in homes to accommodate older people.

“Everybody is paying attention to this because it is becoming a trend, a very strong trend,” he said.

Coldwell Banker conducted an online real estate survey on trends regarding multi-generational home buyers and sellers in January. The survey yielded responses from 2,360 Coldwell Banker real estate professionals across the United States. A separate survey of Coldwell Banker real estate brokers from over 40 markets across Canada in April identified similar trends in the Canadian market.