Preowned aircraft transactions edged slightly higher than a year ago but the market looks to be normalizing going into 2023, according to the International Aircraft Dealers Association (IADA). IADA members reported 1,399 used aircraft sales transactions last year versus 1,370 in 2021, marking a 2 percent increase.

Resale volume for the year was $9.3 billion—an average of about $8 million per transaction. As IADA expected, December was the busiest month of 2022 with 259 resales reported, doubling the year’s monthly performance average and surpassing December 2021’s 255 transactions.

Other 2022 data from IADA reported 688 new acquisition agreements, 723 exclusively retained-to-sell agreements, 104 lowered price transactions, 85 deals that fell apart, and 972 aircraft under contract. IADA said overall activity was like that of 2021, except there were more lower-price transactions in 2022 and fewer aircraft under contract.

“Looking forward, IADA members have slightly more modest expectations than they did a year ago for the aircraft resale market over the next six months,” said IADA executive director Wayne Starling. “Based on our perspective survey of IADA members, the more moderate six-month resale projections also hold true for the aircraft finance and aircraft leasing market.”