For people who are thinking of owning a home, NOW might be the opportunity to do it. That is why the market now is called "Buyers'" market. You have all these inventory of homes to choose from; in a sellers' market, you would have very few choices. You can bargain the price that you want with a very motivated seller and you might get it; in a sellers' market the bids go upward and not downward. When you buy now, no one could press you for time to decide finally on a home because there are 20 buyers waiting on line; nor press you to decide on your final price and when you did, only to find out that another buyer offered more and stole the house from you.
In my 25 years of doing residential real estate, there was never two markets that were similar. But in a buyers market, the above advice always holds true.