Loader Backhoe Prices Up 15 Percent in U.S. According to Ritchie Bros. December Market Trends Report

Mon December 20, 2021
Ritchie Bros. Auctioneers

Ritchie Bros.' December Market Trends Report continues to show positive pricing trends across all its equipment indexes, with truck tractor prices up 55 percent in the United States, while medium earthmoving equipment and vocational trucks are up 43 percent and 41 percent respectively (for the three months ending November 30, 2021).

With this month's report, Ritchie Bros. has included a special focus on loader backhoe sales in the United States and Canada.

According to Ritchie Bros.' Market Trends tool, median backhoe pricing is up approximately 15 percent in the United States. The free December report is available for download at: rbassetsolutions.com/market-trends-report.

"Loader backhoe volumes have declined while demand has strengthened, resulting in strong pricing for the incredibly versatile machine," said Doug Olive, senior vice president (pricing), Ritchie Bros. "In 2016 we sold close to 3,000 backhoes in the United States. Through 11 months in 2021 we've only sold 1,815, but the median price has increased 15 percent."

Doug Rusch, managing director of Rouse Sales, added, "Retail values continue to climb, having increased more than 16 percent since the beginning of 2021, reflecting a strong pricing environment for sellers. Transaction volumes in the retail space are also healthy and auction values have increased 3.2 percent in November. All signs point to strong end-market demand for machines right now."

This story also appears on Construction Equipment Guide.

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