Last month brought with it higher prices in the lanes, and even though overall used supply is expected to expand in the coming months, seasonal tightening was perhaps the culprit for the rate spikes in November.

According to NADA Used Car Guide, auction prices for vehicles up to 8 years in age fell by 1.3 percent in November, which is much lower than the numbers traditionally recorded for the month.

NADA analysts pointed out this past month also ended a four-month streak of depreciation rates at or above 3 percent.

NADA’s seasonally adjusted used-vehicle price index rose by about 2 points from October, bringing the index to rest at 123. Last year, during the same period, the index had jumped to 124.

According to the latest NADA Used Car Guide’s latest Guidelines report, strong demand in the used market as well as a decrease in vehicles at auction led to November’s price increases.

Jonathan Banks, executive analyst for the NADA Used Car Guide said, "Usually wholesale auction volume decreases during this time of year ― and it did, again. This time, however, it fell even a bit more than normal. If there are less used vehicles in the marketplace, then competition increases, and values hold a little better as a result."

Auction volume for vehicles up to 8 years in age dropped by 9 percent in November, which is 2 points above the 7-percent drop recorded during the same month last year.

Volume tightening was most noticeable among rental-heavy 2014 model-year vehicles, Banks pointed out; volume for this market segment fell by almost 10 percent in November.

Wholesale prices dropped the most for mid-size vans last month, which saw a 2.6-percent drop. Subcompact cars also fell above the industry average, dropping by 1.6 percent.  

All other segments held stronger-than-average retention. Compact and midsize car prices fell by 1.2 and 1.1 percent, respectively.

And as we approach winter, prices were even stronger for mainstream truck and SUV brands; these segments only saw prices fall within the range of 0.9 to 0.4 percent.

NADA UCG reported although prices have dropped this fall, auction prices are still 1.1 percent higher than they were through November of 2013.

This month, NADA UCG expects seasonality to play a role, as well, with prices expected to fall by 1.5 percent, which Banks says is a “normal dip for the time of year.”

“The drop in prices can be attributed to poor performance within the compact and luxury car segments, the biggest forecasted losers for the month,” Banks said in the report.

Compact car and utility segments are expected to see above-average depreciation, as well, while declines for mid-size cars and most other truck segments are predicted to see depreciation at or below the average, NADA UCG reported.

Following the same trend seen throughout most of the year, pickup prices are expected to see the least depreciation this month.

Looking ahead to the new year, NADA UCG predicts prices will follow seasonal patterns and increase through the first quarter before dropping across the remainder of the year.