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ALL ABOUT THE RV BUBBLE: We all knew it would burst, but why now?

Updated: Aug 9, 2023

The RV industry has seen record breaking growth in the last few years. In 2021 a little over 600,000 units were sold. 2022 saw a decrease of 18% with around 500,000 units selling. RVs of all kinds were being sold as soon as they arrived on dealership lots.

RVs are still selling fast but the market has started to relax. In 2023 RV sales have begun to slow, HOWEVER manufacturers will ultimately ship out around 300,000 units to dealers by year end. Sales are expected to stay steady throughout 2024 and follow the expected 2023 path.

An RV in a bubble.

Prices skyrocketed in 2021 and 2022. The demand was high, so very high that the MSRP prices were no less than astronomical. Consumers could afford these high prices because interest rates during this time were low. The same 30' travel trailer that sold for $45,000 in 2021 is now for sale in 2023 for $27,000 for the newest model. As prices started dropping interest rates started climbing. Consumers saw this and were hesitant to buy.

Does the slowing of sales and higher interest rates mean the RV bubble has burst? The short answer is yes. This is good news for consumers who will now began to pay less but bad news for manufactures and dealers who might begin to lose money. Some consumers are also opting to purchase one of the many preowned RVs that were purchased within the last couple of years that are now available.

Supply and demand circle chart.

Let's look at the bigger picture. The market is now saturated. New RV parks are being built or expanded in more destinations than seen before. Families who purchased RVs in the last few years are now taking weekend long vacations and staying closer to home to save on fuel costs but are still able to experience the joys in RV camping.

It's a great time to purchase the RV of your dreams whether it be new or preowned. It's time to hit the road even if you only travel to the RV resort in the next town over. Enjoy the time with your family and make those lasting memories. It's time to have an Adventure Under the Stars.

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