January 2024 Equipment Market Update - The New Year Brings Some Stability to The Market
The start of a new year when the Holiday rush is over and life gets back to normal, as does the equipment market.
In the first month of 2024, Fair Market Values (FMV) for construction equipment have dropped ever so slightly to $100,461.67 from $101,194.60 last quarter. This dip contributes to the overall gradual six-month decline of construction FMV which could signal some market adjustments.
Fair Market Values for Lift/Access equipment, however, continue to gradually climb in alignment with what experts have seen throughout the majority of 2023. Most notably increasing in values, usage, and age in the resale channel despite rising costs, labour constraints, and other obstacles.
The Agriculture Equipment Market continues to maintain some strength and stability with both Fair Market Values (FMV) and Forced Liquidation Values (FLV). With FMV at $44,995.32 and FLV at $29,572.09, trends are consistent according to analysis, showcasing a strong and unmoving
Source: EquipmentWatch by Randall Reilly (full report here)
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