Is now a good time to start?

[John Peltier]

Rookie here, getting a late start (early 50s) but wanting to get my first buy-and-hold property this year.  I keep seeing Zestimate charts showing a dramatic spike this year after five to ten years of stability.  Given the extreme supply shortage, I understand property can command those prices - but for a buy-and-hold scenario, does it make sense to invest during what looks like an unsustainable price surge?

I'd be grateful to hear how some of you are proceeding this spring.  Thanks!