The seasonally adjusted Retention Index increased to 189.9 points, reaching another record.
Days-to-turn for used retail listings have slightly increased and now sits just above 38 days, which is still lower than what is typically expected.
Values aren’t showing any signs of slowing down, with most expecting this strength to last through the traditional Spring selling season.
Calendar year 2021 has not had typical seasonality patterns as the market has had rapid increases in wholesale values for the majority of the year.
We have now had ten consecutive weeks of wholesale value increases, during a time that traditionally experiences large week-over-week declines.
The seasonally adjusted Retention Index increased to 180.2 points, continuing to hit records.
The fourth quarter is traditionally when the market experiences most of the yearly depreciation, but after just one month in the quarter, values are reporting appreciation of more than 3.0%.
The lack of new inventory is continuing to drive up the demand for used vehicles, which in turn is forcing buyers to pay more week after week and leaving sellers wishing they had more to offer.
Traditionally, values would be declining this time of year, but the lack of inventory continues to be the most common sentiment for the increased auction activity pushing values up.
Wholesale prices continued to gain momentum, with all segments reporting week-over-week increases last week.
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