The end of the 1st time home-buyer tax credit credit is easily identified here. Mixed with our normal seasonal trends it's possible to overlook the activity which it created. Consistent with the trend line it appears that we ended the season with a crescendo and then an immediate downward spiral from roughly Memorial Day. The benefit was short lived but very effective for our needs and inspired an otherwise lackluster Springtime to surge beyond expectations. Buyers remain but they have been converting to a much more conservative approach for various reasons. Notwithstanding, the "Oil Disaster" has remained as their primary focus with just cause.
Information Courtesy of Sunshine MLS