We’re seven days into the month of June, which means it’s time to report the activity of pending home sales during May.  Did markets like Miami Beach homes see a huge surge as the tax credit deadline came and went or did the largely encouraging signs seen throughout the year finally come to an end?  Let’s find out.

The month of May was in fact another month of solid gains for pending home sales, skyrocketing by a whopping 54 percent in Miami-Dade County alone.  To put that number in more detailed terms, pending sales for condos and properties such as single family Miami Beach homes increased to 10,456 last month.  Sure enough, this consecutive month of gains was a result of the federal tax credit which is now officially over.

The future may not be as rosy as one would like, at least not if analysts are to be believed.  Because the tax credits are no more, sales for Miami Beach homes and such are actually expected to plunge.  However, there may end up being a “gentle recovery” once that happens so there’s still some degree of good news to look forward to.