As boomers get older and decide what they're going to do during retirement, their decisions are making a significant impact on the housing market. Many attribute recent market growth to young first-time buyers taking advantage of low mortgage rates and tax incentives. However, boomers are making a splash in the real estate market as well.

Twenty-five percent of boomers will be over 65 in the next 10 years. This means that they're well within the age range to retire from their jobs and downsize. They are increasingly selling their large family homes and opting to buy smaller, one storey condos or even rent apartments instead. Boomers are looking to live closer to their children and grandchildren while also getting some money from their larger home to put towards their retirement.

Savvy boomers are also renting their homes while they travel south for the winter to beaches, vineyards and retirement communities in places such as Lake Erie. They're also renting their southern homes out as they come back north for summers with their families. With their sheer size, boomers are rally helping to shape the housing market.