The number of used business jets on the market fell in August, the second decline in three months after 18 consecutive monthly increases, a recently released report says.
Although it's come down slightly from record highs, the number of business jets on the market is still 36 percent higher than it was a year ago, according to UBS analyst David Strauss in a report.
Seventeen percent of the business jet fleet is up for sale. The average asking price for newer models is down 30 percent from peak levels. Pricing fell another 2 to 3 percent in August, the report said.
The asking price for a Citation Excel was roughly unchanged last month but is down 38 percent from its peak, it said.
The price of a Hawker Beechcraft Hawker 800XP declined about 3 percent last month and is now 37 percent down from its peak.
The average asking price of a Cessna Citation X declined about 3 percent in August and is down 47 percent from its recent peak, the report said.
The used business jet market is a leading indicator of new business jet sales.
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