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2023 YTD Retail Averages - WOW!!!!

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Alex Snyder said:
www.redfin.com

Housing Market Update: The Typical U.S. Homebuyer’s Monthly Payment Is Up Nearly 20% From a Year Ago As Prices Rise

The median U.S. home-sale price is up 3.2% year over year, the biggest increase since November, and mortgage rates remain elevated. Prices are increasing largely due to the lack of supply, with inventory posting its biggest drop in 18 months as homeowners grasp onto low rates.
www.redfin.com www.redfin.com

www.nerdwallet.com

What’s the Average Car Payment Per Month? - NerdWallet

The average monthly payment is $767 for new cars and $537 for used cars. This is a benchmark as several factors will determine your actual monthly car payment.
www.nerdwallet.com www.nerdwallet.com

The average mortgage payment is now $2,605. The average new car payment is $725 and used is $516. 61% of America does not have enough savings to cover a $1,000 emergency.

No wonder credit card debt is skyrocketing.
Click to expand...
People are re-working their budgets these days so they can afford nice things. It's exactly why credit card debt is out control.
 
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Dealer Authority - 250

✨ AI Highlights

  • Forum members discuss data showing 2023 retail vehicle prices are at record highs, which is driving consumers to keep older cars longer rather than purchase new ones—the average vehicle age has reached 12.3 years nationally.
  • The conversation reveals that affordability is the core issue: with average new car payments at $725/month, mortgage payments exceeding $2,600, and 61% of Americans unable to cover a $1,000 emergency, many consumers are choosing to maintain aging vehicles or purchase used cars as a more economical alternative.
  • The thread concludes that this trend benefits the aftermarket auto parts industry while creating headwinds for new vehicle sales, and highlights a broader economic squeeze on American consumers juggling housing and transportation costs.

Forum members discuss data showing 2023 retail vehicle prices are at record highs, which is driving consumers to keep older cars longer rather than purchase new ones—the average vehicle age has reached 12.3 years nationally. The conversation reveals that affordability is the core issue: with average new car payments at $725/month, mortgage payments exceeding $2,600, and 61% of Americans unable to cover a $1,000 emergency, many consumers are choosing to maintain aging vehicles or purchase used cars as a more economical alternative. The thread concludes that this trend benefits the aftermarket auto parts industry while creating headwinds for new vehicle sales, and highlights a broader economic squeeze on American consumers juggling housing and transportation costs.

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