Is there a consistent way to do a single-key repeat search in the edit/debug IDE?

Open a new edit/debug IDE window and load a file.
Search (Ctrl-F) for string1. Then exit the search dialog box.
Use F3 to do a repeat search for string1. No problem.
Search (Ctrl-F) for string2. Then exit the search dialog box.
Use F3 to do a repeat search. It finds the next occurrence of string1.

Is this as designed?