Average Used Car Price Fell More Than 1% In August

Last month, the average listed price for a used car in America was $26,651 — down 1.4% from July’s figure. July’s price was 0.5% less than June’s.

But analysts say the drop may not last. The nationwide supply of used cars shrank on strong sales in August, according to Kelley Blue Book parent company Cox Automotive.

Inventory Shrinking

America’s car dealers have about 2.25 million used cars in stock awaiting sale. That’s 9% lower than inventory numbers from a year…