Some highlights from May:
- inventory to sales dropped to 8.5 months, about the same as last year at this time but on lower sales volume
- distressed property sales were about 40% of the market, a bit of a drop from prior months
- inventory continues to drop below 2006 figures, aided by more leasing and lease/option arrangements (see this month's column on "owner financing")
- Nationally, month over month sales increased 2.4% for the second month in a row, but was down 3.6% from May of last year.