We saw a decline in the number of contracts in May. Possible reasons for the decline include: expiration of the first-time buyer tax credit on April 30, declining interest rates creating a wait & see response, or inability to find that home that fits all of the criteria. Although we have 700+ homes on the market in The Woodlands, there are still buyers unable to find that perfect match!

Our market is following the historical seasonal curve.

Here is the dip that will be a topic of conversation until the numbers for June contracts are available. In reviewing this graph for each $100,000 list price increment, the under-$400,000 showed a dip, $500,000 to $900,000 was mixed, and the $1 million + experienced a huge leap.

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