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Resale prices for RVs drop for first time in months

For the first time in a very long time, the wholesale prices of RVs are behaving like they used to.

The new information comes from Black Book, a company that sources and integrates vehicle history report data and then analyzes millions of vehicle transactions to track valuations.

“For the first time in quite a while all of the RV market segments we track behaved in a way that would be expected in a ‘normal’ year, with the values of both motorized and towable units declining at wholesale auction as we head into winter,” said Eric Lawrence, Principal Automotive Analyst for Specialty Vehicles at Black Book. “With RV manufacturers setting new production records month after month, it’s possible that the supply of used units is finally catching up with the demand.”

Average selling prices down

Black Book said the average selling price of motorized RVs in November was $79,270, down $2,114 from the numbers they tracked in October 2021. Towable RVs followed suit, down $908 to an average selling price of $21,405.

Lawrence said that just a year ago, the average RV motorhome sold for $60,067 and a towable went for about $19,346.

The average age for a motorhome at auction was 11 years old, while a towable unit had an average age of seven years old.

COVID-19 reversed the trend

Lawrence said in a typical year RV resale values would start to decline as winter approached. In the 2020 buying frenzy driven by COVID-19, that trend was reversed as everyone, it seemed, was in the market to purchase an RV. This past November, the trend seems to have reverted to a more normal pattern.

Lawrence said RV auction volume was up for November, with motorhome sales gaining 2.1 percent in volume while towable sales increased by 7.7 percent.

Black Book experts also noted that the ongoing microchip shortage likely led some folks who would normally purchase new RVs back into the used RV marketplace. “Many used buyers are frustrated new buyers,” Lawrence said.

##RVT1034b

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mtbmitch
6 months ago

Here is a scenario. A family with decent disposable income decides they want to buy a lightly used Airstream FC 23CB. They find one just 100 miles away for 80k. They buy it and the private party helps them hook up the trailer to the Ford Expedition. Well 3 trips later they decided that the corner bed next to the bathroom is not such a good idea. So Fast forward a year to now. The family fell in love with a 25RB. The local dealer has a brand new one in stock that someone backed out of. The dealer said with the high fuel prices we can only give you 60$ trade in but would offer 15k off the sticker price on the 25 footer. Does the family balk and just let their 23cb sit in storage racking up 1100$ a month in loan payments and storage costs thinking that the market will turn around or sell it at market or roll their 23cb into a down payment and ramp up into a 950$ a month loan for 10 years with a brand new 25rb? Also the storage cost goes up at 25 ft so now it costs 400$ a month to store.

travelingjw
8 months ago

This should not be a surprise to anyone. In fact, Chuck quoted me in an article in the “middle of Covid” when I pointed out that many of the newbies had little or no idea what they were getting into and when they realized that one actually has to maintain an RV they would sell. I expect that if the numbers of new RV’s sold during Covid were accurate we will continue to see prices of used RV’s drop for the next few years.

SEABEETOM
8 months ago

Avoid buying 2020 and 2021 Motor homes. The quality is not there. Wait until the quality is back before buying New

Daniel Brewer
8 months ago

Not to cast dark on your article, but I’d love to know where you get your data. Our Dealer just passed along another $1,310k increase (at 31% off) from Rockwood to us a few days ago, and that’s based on the Jan 1st, 2022 MSRP sheet. That’s $4208 in increases since Aug 25, 2021. So from where we sit, there’s no downward price movement at all. Our build date is Feb. 16, 2022, so hopefully, we’ll get it before another round of increases.

Ray Zimmermann
8 months ago
Reply to  Daniel Brewer

The article is reporting on the prices of used units, not new.

Paul
8 months ago
Reply to  Ray Zimmermann

That was not clear in the headline or the lede

Admin
RV Staff(@rvstaff)
8 months ago
Reply to  Paul

Well, except that the title does say “Resale prices …” – which refers to previously owned. Have a good evening/night, Paul. 🙂 –Diane

SEABEETOM
8 months ago
Reply to  Paul

Resale is not new, but used.

Mike Gast
8 months ago
Reply to  Paul

Sorry Ray. I thought saying “resale prices” in the headline would make it clear that we weren’t talking about new sales.

Charisse Tyson
8 months ago

We were being looky-loos last year when there wasn’t much to look at. We ventured into a Lazy Days dealership in Wildwood, Florida where we were staying at a Thousand Trails for a couple of weeks. The salesman told us that they had one motorhome that met our criteria. He took us to see a 2020 Tuscany by Thor. My husband and I both fell in love with it. However, the timing wasn’t right. We still lived in California and were planning our great escape into full-time RVing. The storage, bath and a half, 450 diesel engine, jake breaks, and a master bath with a closet twice the size of our current rig left us drooling. The salesman took our number and he reached out to my husband about a month later. He said that a 2021 model like the unit we loved would be available on New Years’ Eve 2021. With motorhomes in short supply and being snatched up before they even hit the showroom floor, we decided to put a $2000.00 deposit on the RV. I’d love to share the rest of my story, but it won’t fit. 🙁

Admin
RV Staff(@rvstaff)
8 months ago
Reply to  Charisse Tyson

Hi, Charisse. You can just Reply to your comment and continue your story, if you want. Have a great day! 🙂 –Diane

Renee Bickar
8 months ago
Reply to  Charisse Tyson

I would love to hear the rest of your story; what a cliffhanger! Hope your story has a happy ending….
We have been looking for a low mileage class C and not much out there at this time.

Marcia
8 months ago
Reply to  Renee Bickar

Renee, there are so many great low mileage class C’s on RVtrader. I might even be selling ours soon. 2019 Jayco Greyhawk 26y, full body paint, 15k miles. San Antonio TX. 😀 Marcia

Phil Upham
8 months ago

We purchased our new rig when the dealers had none on their lots. I do not anticipate the craziness revolving around vehicles and RV’s to continue forever and anticipate a mild correction. COVID impacts on commercial travel as well as fear of contracting it will keep the RV very desirable as the virus does not appear to be abating.

Tim
8 months ago
Reply to  Phil Upham

At some point the market will reach saturation point. If dealers and manufacturers don’t plan on that happening you will see the massive collapse of the market when it hits.

Jesse Crouse
8 months ago

Wait until all the newbies who bought last year decide to dump their units into resale because they can’t afford them or don’t like the constant attention RV’s need.

Tim
8 months ago
Reply to  Jesse Crouse

“RV auction volume was up for November”
The dumping may have already begun.

Clay Baker
8 months ago
Reply to  Jesse Crouse

How do you get out of the long term loan on a new RV?

Mary
8 months ago
Reply to  Clay Baker

I don’t think you can, you committed and signed a contract.

Scott
8 months ago
Reply to  Clay Baker

refinance

Tom
8 months ago

I live a mile from the largest auction in Florida and over the past few months the volume of motorized and towable RV’s has been down.This auction located in central Florida caters to many large dealers who send to auction rough trade ins older units that these dealers don’t finance and repos from three banks.I personally know very clean trade ins are nonexistent at several large dealers in the area.

Karen
8 months ago
Reply to  Tom

Curious, can you tell me what city this auction is in?

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