The construction equipment market is still working through the supply chain issues that bedeviled it in 2021, and an active construction market is keeping machines in use longer and constraining the flow of used iron into the normal secondary channels.
As a result, construction equipment is still seeing strong pricing in the resale and auction markets, according to first-quarter data from industry analyst firm EquipmentWatch. Prices for equipment at resale were up 4.7% year-over-year in January and up 6% from December. Equipment age is also creeping up: 15.1% year-over-year and up 12.9% from December.