The rolling three-month moving average of luxury homes sales took a beating in the period ending November, according to Redfin. The 38% year-over-year volume drop was the largest on record according to the firm's data, but that only goes back to 2012, so might miss some previous big catastrophes like the Great Recession.

Non-luxury home sales volumes were also down by 31.4%. Not as large, but again the biggest since at least 2012. It's not clear whether the differences are statistically significant or not.

The figures are based on Redfin estimates of property values, with "luxury" being homes estimated as in the top 5% of market value and non-luxury in the 35th to 65th percentiles. That does leave some large sections of the market unaccounted for and the firm did not provide information on those. It might be that changes in volume were different in them.