---
title: New Home Sales Plummet, Retracing December Gain
description: RISMEDIA, February 28, 2011—(MCT)—Sales of new U.S. homes fell in January 2011, almost completely retracing the strong gain seen in December, the Com
---

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# New Home Sales Plummet, Retracing December Gain

Posted by [Daniel Jones](https://www.fair-assessments.com/blog/author/daniel-jones) on Feb 28, 2011 5:05:00 PM

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RISMEDIA, February 28, 2011—(MCT)—Sales of new U.S. homes fell in January 2011, almost completely retracing the strong gain seen in December, the Commerce Department recently estimated.

Sales dropped 12.6% last month to a seasonally adjusted annual rate of 284,000. Economists had been expecting a pace of 300,000.

For December, sales were up a revised 15.7% to a 325,000 level, compared with the previous estimate of a 17.5% rise to 329,000.

Economists had been leery of the initially reported surge, attributing much of December’s gain to home buyers who rushed to take advantage of a tax break in California that expired at the end of 2010.

[http://rismedia.com/2011-02-27/new-home-sales-fall-12-6-percent-in-january-2011/](http://rismedia.com/2011-02-27/new-home-sales-fall-12-6-percent-in-january-2011/)

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