Across the U.S., used-vehicle lots held a total supply of 2.1 million units in February, according to a Cox Automotive data analysis.

That number was up about 2% from a year earlier but down about 3% month-over-month.

As inventory levels dropped, the used-vehicle sales pace rose about 6% year-over-year, and Cox estimates a sales volume of 1.4 million vehicles. The daily sales rate was up 13% month-over-month to 50,400 vehicles.

Used-vehicle days’ supply dropped two days year-over-year and seven days month-over-month for an average of 42 days.

Cox postulated that February’s upswing could be the result of rising credit availability, higher tax refund amounts, and “a bounce back from a weather-related slowdown in late January.” But price was also considered.

The average used-vehicle listing price was $25,287, slightly down from January’s $25,570. Cox said that lower SUV prices most likely drove the month-over-month decline because they accounted for nearly half of all used vehicles sold.

Th average listing price of the top five sellers of the month was $23,578, 7% below the average for all used units sold. And nearly half of used deliveries were Fords, Chevrolets, Toyotas, Hondas and Nissans.

Certified preowned vehicle sales rose 2% year-over-year and month-over-month to an estimated 207,263.