Third-quarter results show that we are on pace to duplicate the unit sales of last year. Throughout nine months, 2019 unit sales are within 1.5% of last year's unit sales at the same point in time.
Inventory is also near the same, down a mere 1% from this time last year. Taking out unfinished new home inventory, there are only 41 days of resale and finished new home inventory for buyers to choose from. The lack of inventory is likely to continue to push prices up, which have already increased by 10.6% over the most recent 12 months.
The chart below shows trends in average price and units sold over the last 16 years. 2019 figures have been projected from our third-quarter results.