Is it a good time to buy a house?

My wife and I are first time buyers and wondering is a good time to buy a house?

We currently have an offer in on a house but keep on hearing that prices will continue to drop, people are still getting laid of, etc, etc

We in 2 minds whether to proceed with the current offer or pull out and wait for another couple of months.

What are your thoughts on this?

We don't allow speculation about house prices.

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