Sales of U.S. existing homes plunged 16.7% in December to a seasonally adjusted annual rate of 5.45 million from 6.54 million in November as the house purchase tax credit was set to expire. The 16.7% percentage decline from November to December was the largest on record, the National Association of Realtors reported.
Two things to keep in mind here. First, this indicates how manipulated of a "recovery" this. Once the government pulls the support from a sector, it crashes. Second, this is a winter month number. These numbers are notoriously volatile and heavily impacted by weather events.