Black Book, which publishes a family of vehicle appraisal guides, has released the Black Book RV Market Commentary for July.
“The economic news has been generally negative for the past several months, with many articles talking about inflation, the falling stock market, high fuel prices and the possibility of a recession. Against this gloomy backdrop, the values of both motorized and towable RVs declined from the previous month. Auction volume was down as well, which is not terribly unusual for this time of year,” stated Eric Lawrence, principal analyst of specialty markets, Black Book.
Lawrence continued, “Taking a closer look at the markets, we see that the average selling price for motorized units was $68,948 which is down $4,402 (6%) from the previous month. Towables came in at $20,196, down $687 (3.2%) from last month. One year ago the average motorhome sold for $68,623 and the average towable unit brought $23,176.”
He also noted that auction volume was down – motorhomes dropped 21.7% while towables declined 3.8% – and the average age of motorhomes was 12 years (2010) and towables was six years (2016).