this does not happen in all countries, maybe only a few...
Real estate prices in my city have remained stable, there is no indication of price reductions, perhaps because many are still not experiencing panic. in my country, real estate is a business that is not affected by this epidemic.
In few countries the real estate demand will fall for sure because business are impacted, employees may lose their job or may not find it easily, this all lead to less purchasing power which means people would not have money or cannot take risk to buy the real estate property at this time.