Despite the huge drops, sales are still above where they were two years ago.
The timing is key, because the sales figures from two years ago were tallied before three major events later that year.
Gun sales have been on the increase since the election of President Obama. His reelection in 2012 also spurned an increase in sales.
The reason being because there were fears the President would confiscate guns or pass legislation prohibiting the sale of certain types of guns.
According to the FBI, more than 1.6 million background checks were done last month. That's down from 2.5 million the previous January.
Burnie Stokes of Panhandle Gunslingers says supply is catching up with demand on both guns and ammo.
He says the Presidential race is only one of the factors that helped push sales higher last year.
"There were a lot of things, Sandy Hook (elementary school shooting), (Hurricane) Sandy and the Presidential election. The hoarders. everybody was afraid." Stokes said.
Background checks increased by 25% immediately after the reelection of President Obama.
But, they increased by more than 40% immediately after the Sandy Hook Elementary school shooting in connecticut that killed 26 people, mostly kids.
The fear was that congress would try to put some restrictions on gun sales. A bill was introduced to reinstate the ban on assault rifles that expired 10 years ago, but never passed.
Experts say we go through an ammo shortage at the start of every year because that's when the government buys their ammunition in bulk.
But, Stokes says there are manufacturers opening plants meant specifically for the military which should ease the shortage for retailers.
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