“While almost all real estate brokerage firms have embraced digital tech and realtors are able to utilize signature platforms and other tools to conduct business, once showings, open houses and other in-person business is restricted, there will definitely be a drop off in transactions,” John Lusink, president and broker of record at Right at Home Realty, told Yahoo Finance Canada.

“We expect to see a drop in sales but this will take a month or two to filter through into the actual results.”

“Obviously there has been an immediate pause in market activity as everyone tries to figure out what happens next,” Steve Saretsky, realtor and author of real estate blog Vancity Condo, told Yahoo Finance Canada.

“We are seeing buyers move to the sidelines and sellers put some of their listing plans on hold.”

“The way I see it the housing market is basically frozen... no buyers and no sellers,” Benjamin Tal, deputy chief economist at CIBC Capital Markets, told Yahoo Finance Canada.

“That in a way will limit or even eliminate any notable downward risk to prices. Simply the number of sales will go down dramatically.”

https://ca.yahoo.com/finance/news/coronavirus-is-already-taking-its-toll-on-canadas-real-estate-market-175434098.html