DENISON, Texas (KTEN) — Used cars are starting to sell for less than sticker price after record high demand. 

During the pandemic, a microchip shortage decimated new car inventory. As a result, buyers turned to pre-owned vehicles, which caused those prices to jump as well.

Two years later, consumers are finally seeing some relief when they go looking for a vehicle.

The Bureau of Labor Statistics says November 2022 was the fifth consecutive month that used car spending went down.

Analyst Karl Brauer of iSeeCars says that the used car inventory is bouncing back.

"If people have to buy now, they are already in a better place then they were," said Brauer. "If they can wait another two, three, or six months, it is very likely that cars will be even lower."

Sherman used car dealer Jeff Jeffers hopes the market settles down, because his customers have waited out the storm.  

"The prices have just been out of hand," he said. "They could really stand to see the prices drop and be able to buy a car for their price range."

According to iSeeCars, back-to-back years of high prices that kept buyers away coupled with a drop in demand is finally resulting in lower vehicle prices.