The used car market enjoyed its best October since 2021, according to a new report from CarGurus.
Sales in October were up 6 percent from October 2024, with customers seeking affordable options.
“The used market continues to show strength, with multi-year highs in demand for October,” said Kevin Roberts, Director of Economic and Market Intelligence at CarGurus.
Roberts pointed out that increased inventory and slight decreases in prices have helped bring more consumers to the lot. The CarGurus Intelligence Report showed a 3.3 percent increase in listings in October over the previous month and a 9.1 percent jump from October 2024. The days on the market were at 71.4 days at the end of October, which was down slightly from September.
The average price was down 0.4 percent from September. Prices are up 2.2 percent from last year at $28,800.