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—The number of homes that closed in May are down more than 5% compared to April.
—Newly signed contracts in May dropped more than 10%, a sign of a real estate drought this summer.
—Internet searches on real estate sites are down 20 percent compared to this time in 2009.
The last two were pretty expected, but I'm curious why the May closings are down. These closings would have represented contracts signed in March, leading up to the end of the tax credit, or the real surge.