Strong retail demand continued to sustain wholesale used vehicle prices in November, as average prices rose on both a month-over-month and year-over-year basis. But as noted in last month’s results, some of the increase is due to a shift in the mix of vehicles being sold at auction toward younger off-rental and off-lease units as opposed to older dealer consigned vehicles, according to the latest Kontos Kommentary from ADESA Chief Economist Tom Kontos.

Still, the price buoyancy is encouraging to consignors — who have been bracing themselves for price softening in light of increasing vehicle supply — and to dealer buyers, who are profitably retailing these units, says Kontos.

According to ADESA Analytical Services’ monthly analysis of Wholesale Used Vehicle Prices by Vehicle Model Class, wholesale used vehicle prices in November averaged $9,750 – up 1.7% compared to October and up 2.1% relative to November 2012.

Prices for used vehicles — remarketed by manufacturers — were up 3.6% month-over-month and up 3% year-over-year, while prices for fleet/lease consignors were up 0.4% sequentially and up 5.1% annually. For dealer consignors, there was a 0.8% average price increase versus October 2013 but a 0.8% downturn versus November 2012.

Based on data from CNW Marketing/Research, retail used vehicle sales were down 1.0% month-over-month but up 7.6% on a year-over year basis in November. And based on figures from Autodata, sales of certified pre-owned (CPO) vehicles were down 0.7% from the prior month but up 19.3% from the prior year.

This Kontos Kommentary analysis is based on nearly six million annual sales transactions from more than 150 of the largest U.S. wholesale auto auctions, including those of ADESA as well as other auction companies. ADESA Analytical Services segregates these transactions to study trends by vehicle model class.