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Sales volume, on the other hand, continued to weaken in May. The number of resale transactions was flat month-to-month but down by over 22 percent from a year prior.
The months-of-inventory indicator, which measures how much resale supply is available compared to demand, was up to 7.1 months, compared to the 5.5 months of inventory available in May 2006.
— RICH TOSCANO