Depends on what you mean by 'discount.'
Instead of double-digit year-over-year price appreciation (absurd), it's single-digit year-over-year (more normal) price appreciation.
When you see price drops on homes on market, those are typically ones that were priced ahead of the market using last year's numbers. I've seen a lot of appraisals reflect this, too.
In my area, stuff that's priced right is still gone in days, sometimes hours. Stuff that's not will sit for all eternity.
I definitely think there's gonna be slow growth or at least flat prices. But I think anyone holding out for more than a ~5% drop is gonna get caught holding the bag, especially in high demand areas, and even then, a half-percent increase in mortgage rate will offset any money 'saved' and will be a person paying off interest instead of principal.
Except for full-cash buyers, those are the folks getting punished most.
More accessible info:
Will coronavirus drop Southern California home prices? – Orange County Register
But of course, I can't pretend to have a crystal ball. This shit is all weird. But what I've seen in the last two weeks especially is confidence as if nothing ever happened and each city selling 50 homes but only putting 20 on the market.