Tokyo area new apartment supply down for 21st month

TOKYO, June 16 (Reuters) - New apartments put up for sale in the Tokyo area totalled 3,538 in May, down 19.4 percent from a year earlier and falling for the 21st straight month, a property market research firm said on Tuesday.

The contract ratio in the Tokyo metropolitan area in May rose to 70.7 percent from 64.7 percent in April, the Real Estate Economic Institute said.

The ratio, the number of units sold as a percentage of units put on the market, is used to judge the market's health and a ratio below 70 suggests a weak market where consumers are reluctant to buy. (Reporting by Mariko Katsumura)