I think prices will still go down, but as someone mentioned above, if you're looking for your home and have a decent downpayment, it's a pretty good time to buy.
You have the benefit of being able to take your time and really find the home you love, be picky about everything and get into your dream home at a price you can afford. Prices may go down more, but that may also increase the amount of buyers and make you miss out on that perfect house because someone snatches it up first.
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