Buyers keep asking that same question and the answer for one person is not necessarily the right answer for another.
Some people like to play the "waiting game" and like the risk. By waiting, the market could turn around, inventory can be reduced, prices can get stronger and there won't be the choice that there is today.
If you are a buyer and you find your "home" in the right place and at the right price and you are able to proceed and buy (either with financing or cash) - then what are you waiting for? If you're worrying about missing out on a "great buy" in the future -- there is also something bigger, better, less expensive -- but there may be different issues preventing you from buying, at that time.
We all want to feel that we're getting the best possible "deal"; however, no time is as right as the present time.
None of us know what tomorrow will bring so enjoy today.