Homeowners are currently sitting on approximately $35 trillion in home equity, which is more than double the equity levels seen before the financial crisis.
The typical age of a home seller has reached a new high of 63, with many having owned their homes long enough to pay off their mortgages.
Older homeowners, representing around 40% of American homeowners, are leveraging their home equity for funding a comfortable retirement.
While homeowners have substantial equity, some markets may see falling home prices, creating urgency for owners to cash out before declines.
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