McLEAN, Va. -

Though auction prices are on the way down for most segments, full-size pickup trucks stand out as one of the few exceptions.

According to NADA Used Car Guide’s May edition of Guidelines, through the first four months of this year, prices for this segment are up almost 7 percent.

NADA UCG offered the following example: The average trade-in value for a 3-year-old Chevrolet Silverado 1500 Crew Cab LT 5.3L 2WD is $20,540, up $1,460 or 8 percent.

Just last year, the value of a 3-year-old Silverado was $19,080.

And NADA said the same trend can be seen across all brands of full-size pickups.

Offering some insight into the reasons behind the price uptrend, Jonathan Banks, executive automotive analyst with the NADA UCG, said, "The recovery of home values and increased residential construction, stabilizing gasoline prices and a decline in late-model supply have resulted in higher trade-in values for full-size pickups.”

He also explained that the simple rules of supply and demand are pushing prices up, as well.

"The late-model, used supply of full-size pickups has yet to recover from the dramatic fall off in new-vehicle sales caused by the economic recession," Banks added.

NADA UCG explained that during the recession (2007-2012), the supply of full-size pickups up to 8-years-old declined by 17 percent and is expected to fall by an additional 8 percent this year.

"The continued slide in supply comes at a time when demand is heating up and the housing market improves," Banks said.

"The increase in home prices will continue to stoke demand for full-size pickups, particularly those in configurations most frequently used in construction applications, such as lower-priced 2-wheel drive, regular cab trucks with V-6 engines," he continued.

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