BofA says used equipment values remain stable in July

Investing.com -- Bank of America reported that used equipment values remained stable and trended sideways across categories in July 2026, according to RB Global Used Indices based on a three-month moving average.

Construction equipment values declined 2% year-over-year in July, unchanged from June's 2% decline. The firm noted improvement on a two-year stack basis in the US, while Canada showed positive year-over-year growth.

Truck values held flat year-over-year in July, matching June and March readings. The US showed improvement on a two-year stack basis, while Canada posted positive year-over-year gains.

Bank of America stated that used equipment values improved in the second half of 2025, with conditions becoming less negative each month. This suggested equipment markets were stabilizing heading into 2026.

The bank noted that inventory levels are currently low and auctions are seeing more end-user buying from contractors rather than dealers or wholesalers. Bank of America indicated this represents a healthier sign of demand.

The firm stated it has not yet observed values turn positive on a year-over-year basis. Bank of America said it believes a second-half inflection could occur and that used values would need to increase from current levels to support conditions into 2027.

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