On one day last week in downtown Toronto, there were 38 new listings (houses) and 8 sales, 7 of which sold over asking.  A day later there were 48 new listings and only 3 sales, 2 of which were for over asking.  One month ago, the number of sales each day would have been much higher.  I expect this trend (more listings and fewer sales) to continue for the foreseeable future.  Some see this as a good opportunity to invest.  We don’t know enough at this point to comment but we can tell you that in the recession of 1990, our industry came to a halt.For the first time in decades in Toronto, selling a house in a good neighbourhood within a reasonable period of time is not a given.  The risk factor is high.  With so much uncertainty in the world, the bank appraisals may not match what the buyer paid.A couple of weeks ago the Broker/Owner of RE/MAX Hallmark (our boss) cancelled all company open houses.  We also received directives from our provincial association outlining how and when properties can be shown to qualified buyers.  Last week, the average number of company-wide showings were down by 50%. This is indeed not business as usual.