Real estate is not exactly a liquid commodity market. Because sales are fairly infrequent, sellers tend to try to wait out buyers' markets by simply not selling

Real estate is not exactly a liquid commodity market. Because sales are fairly infrequent, sellers tend to try to wait out buyers' markets by simply not selling. This means you are not likely to see as high a volume of sales in a down market, at least at first. This slower movement of property can prop up prices in the short term as pent up demand (waiting for a lower price) competes to purchase. You will more likely only see prices plummet if the down market lasts long enough that sellers can no longer wait, and/or sellers see that waiting will only bring a lower price. Inflation doesn't help here, as it makes waiting to sell more attractive. If it were me, I'd make sure to track properties, and engage at lower price points. People may not take it, but eventually, you may be the best/only one offering to buy. Oh, and remember, the 'price' you see is the asking price. That is hardly ever the sales price.