The Cox Automotive days’ supply is based on the estimated daily retail sales pace for the most recent month. Days’ supply of used vehicles in May was 45, up 1 day year over year and up 2 days from the revised April measure of 43. Compared to April, inventory volume was up 4% while the sales paced decreased 2%, resulting in 6.1% increase in days’ supply.

The average used-vehicle listing price was $26,918 in May, up 6% compared to the levels observed a year earlier and higher by 2.2% from the revised-lower $26,329 recorded in April, marking the third consecutive month of above-normal gains.

While listing prices increased across every segment, age group, and price tier, the overall increase was driven primarily by a shift in what sold. Both inventory and sales of vehicle priced under $20,00 declined in April, while sales of higher-priced units grew. Near-new SUVs posting the largest gains. The top five sellers of the month had an average price of $25,043, approximately 7% below the average listing price for all used vehicles sold.

“The higher prices at used retail right now are reflective of strong wholesale values earlier in the spring, particularly for older and more affordable vehicles. Auction prices – an important source of used-vehicle inventory – ran well above year-ago levels earlier in 2026 and have held, carrying through to retail and helping explain the sustained gains.

“Price-conscious buyers continue to face limited options in the used-vehicle market, with inventory in the lowest-priced segments remaining scarce. Vehicles priced under $15,000 carried 33 days’ supply in May, 12 days below the overall market average of 45,” said Vanner.