Used Market Stabilizes
The Carfax Used Car Index noted a major drop in used-vehicle price increases in July after several months of hikes.

Prices of used pickups rose by nearly $400 month-over-month.
Pexels/Kendall Hoopes
Average used-vehicle price increases eased in July, up only about $50, or well under 1%, for the smallest monthly increase in several months, according to Carfax data.
That's a major departure from June, when prices rose $350, and from May, which saw a whopping $900 jump. Carfax said part of the reason for the decline is an increase in used-vehicle supply.
Prices in some segments, though, went in the opposite direction.
The car-shopping website listed the rolling seven-day median average price for used vehicles at $25,800.
“While prices remain high, the overall rise in costs was much lower than in the past few months,” said Carfax Editor-in-Chief Patrick Olsen. “After a strong spring with rising car prices, we’re now seeing the market catch its breath.”
Pricing trends varied regionally and by type of vehicle.
Used pickup truck prices rose by nearly $400 month-over-month, and used cars were up about $150, which Carfax said is pushing the segment to break $20,000 for the first time.
Meanwhile, SUVs, luxury cars, vans and minivans all saw price decreases, while luxury SUV prices increased slightly. Overall, hybrid and electric-vehicle prices were flat.
In every region of the states, used prices were mixed. In the South, hybrid and EV prices rose while pickup trucks dropped. In the West, vans and minivans rose while luxury cars fell. And in the Northeast, hybrids and EVs rose as luxury SUVs dropped.
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