Is it common for men to lose body hair in old age?

In his 30’s and 40’s I recall my dad being a bear in a sweater, from a body hair standpoint. Now he’s turning 80. I caught a glimpse of his bare legs and arms the other day, and they’re hairless! He also is a lot more prone to cutting/bruising his skin just by hitting his hand against something.

Is this common with old age?