With the help of Jim Tennant of The Tennant Group and Michael Meyer of Rate-Highway Inc., we are conducting rate surveys on a weekly basis and providing analysis and comments where appropriate. We publish this monthly recap in our electronic edition and more comprehensive looks in the print editions.
After four of the last five months being relatively flat, November rate quotes turned down — the exception being the July spike, caused largely by an industry shortage due to recalls.
However, every month since August has been down, and November’s drop of $3.55 is the largest one month drop since we switched to the 50-city survey.
An interesting trend is the coming together of the regional rate quotes. In November 2013, the Northeast’s $63.29 average quote was 90% higher than the lowest: Northwest’s $33.38.
But in November 2014, there was only a 36% increase between the highest rated region (Northeast’s $48.45) and the lowest rated region (Northwest’s $35.73).
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