I talk to a lot of people about buying and selling a home. Many are waiting for the prices to climb (sellers) or fall, or fall further, (we call them buyers). The problem is they are all waiting for the top or bottom of the market. These things are hard to find. Many sellers who were waiting for the top of the market now have homes they cannot sell (and may need to). Many buyers are waiting around for the prices to drop further. On average they have not dropped. There are some bargains, but interest rates and prices slowly creep up. I think the market has just about hit bottom. It will not go up fast but we have turned the corner.
In short, but the time the press, real estate experts and others have identified a trend or a market peak/bottom it has already passed. Look at the trends, but sometimes you just have to jump in. It has been said the best time to buy real estate in California is always 5 years ago.