The Ups and Downs of US Homeowners in the Housing Market
US homeowners who are downsizing are considered "lucky" due to the strong price gains in the US housing market. The value of the market has surged about 50% since January 2020, allowing some homeowners to cash out and downgrade to a smaller home without taking on debt. Older homeowners, particularly those aged 55 and older, are more likely to be mortgage-free and are leading the way in selling and buying homes. Rising home prices and strong demand from boomers have squeezed many millennials out of the homebuyers market.