Sales of luxury U.S. homes fell 17.8 percent year over year during the three months ending April 30, the largest drop since the onset of the coronavirus pandemic sent shockwaves through the housing market. By comparison, sales of non-luxury homes fell 5.4 percent, according to an analysis of luxury real estate trends from Redfin.
The analysis divides all U.S. residential properties into price tiers based on Redfin estimates of home market values and defines luxury homes as the most expensive 5 percent of homes in each metro area.