The latest wholesale used RV market information is out. The December sales figures, according to Eric Lawrence with Black Book, show a mixed bag, with motorhome prices up and towables down. But, says Lawrence, the overall indicators suggest that for some buyers, now might be the time to buy an RV.
Towables continue to slide, motorhomes “sawtooth”
“This is the sixth straight month of declines for towables,” Laurence notes. “And although motorhomes went up, their overall trend since mid-2022 has been downward.” Looking at the graph for fifth wheels and travel trailers, the overall trend has been downhill in terms of price since early last year. Motorhomes are doing what Eric Lawrence describes as a “sawtooth.” “We knew motorhomes would be up [in December] because they were down last month [November].” No matter how you sharpen the blade, though, the graphs don’t lie. All RV used prices are on the decline.
We queried, “What’s it all mean?” In the market analyst’s mind, Lawrence says, “We’re getting back to a ‘normal’ market.” Lawrence’s feelings are that the COVID era was a major bombshell for the industry. “It’ll take a few years for everything to cycle through from COVID,” he added, suggesting that unlike less-expensive consumer goods and consumables, higher priced RVs will make for a longer horizon to settle down.
Is it time to buy an RV?
So, is it time to buy an RV? Maybe, says Eric Lawrence. If a prospective RV buyer is “willing to keep it a while,” Lawrence suggests it could be a good time to negotiate with dealers. This is particularly true for new 2023 models still sitting on dealer lots. “Every day an RV is sitting on a lot and not selling is costing them flooring,” says Lawrence. With 2024 models already out, and in some cases 2025 models showing up in just a few months, dealers may be willing to do some serious negotiating.
If you’re looking for an older—but not too old—used rig, consider this. Lawrence points out that it takes two to three years for a buyer to determine that the rig they bought just really isn’t what they want. Those huge numbers of RVs that sold during the COVID era are now hitting that point. The used market may become saturated, as these rigs are starting to come in. There may be greater selection—and presumably lower prices because of large volumes—coming up soon.
Stats for the fivers and travel trailers
Here are Black Book’s findings from crunching the numbers of travel trailer and fifth wheel auction prices. Towables came in at $17,877, down $417 (2.3%) from the previously reported month (November 2023). In December 2023, the average towable unit brought $19,182. The volume of towables sold in December was up 14.7%. The average age of towables sold was five years, or 2019.
And the motorhome side
For the motorized market, here are the statistics for December auction prices. The average selling price for motorized units was $62,600 which is up $8,704 (16.1%) from the previously reported month (November 2023). One year ago, the average motorhome sold for $73,411. In December, far fewer motorhomes went across the sales floor than in November—volume was down 6.7%. The average age of motorhomes was nine years old (2015).
##RVT1143b
NOT the time to buy… build quality is still nonexistent
The trouble with buying now is interest rates are too high and if you’re a seller do you want to pay thousands of dollars out of your pocket for the difference between what your RV is worth and what you owe on it. Stay away from US Bank, they’re very difficult to contact about an issue and each customer service person gives you a different story. Plus most of your money goes to interest and very little to principal.
Thank you, Russ and Tina! If the COVID-RVs are on the used market, are they listed as “fixer-uppers?” 😉 I guess the build date will say that louder than whatever specs are given when they get listed for sale. Safe travels! 🙂
Might be the time to buy if you have cash. If you are trading you may take a huge hit.
My wife and I have considered downsizing a bit. In the last two weeks we worked with three different dealers on motorhomes we liked. Not one of them wanted a trade. All wanted to get rid of inventory, not trade. So, two of the three would send a trade to auction…so guess what kind of valuation that was! One just said they weren’t interested in trading and just wanted an outright sale. They advised to sell it ourselves and come back with cash.
We’re keeping what we have. It’s in great shape and I know what it is vs rolling the dice and getting screwed to boot!
Please wait, prices are still way too high, still poor quality, they did this to themselves
I dont think the RV market is at the bottom yet. At most, it is simply flat for now getting ready for the bottom to fall out. My opinion is wait a little longer if your thinking about buying or trading. Inventories are so high that they don’t want your trade in….. which tells me they will be giving them away by the end of the year.
So, the RV has been sitting on the RV lot a couple of years, rotting away and depreciating 25% per year. I think I would buy one built before 2020 from an individual.
only buy used…you can see what work has been done. new, you wont know how shoddy it is until its too late