Waiting to Buy in Michigan - Market Downturn?

[Andrew Abbott]

Hello Everyone,

I'm wondering what everyone thinks of the market right now... I was planning to buy my first MF property in southeast Michigan this year, but I'm noticing a dried up market and very low inventory.

I'm of the impression we may be approaching a peak and downturn shortly after.  I know individual markets vary, but does anyone have an opinion on whether or not now is a good time to buy.

I'm in no rush and still saving for a downpayment, but I don't want to sit around forever either.

Some thoughts/feedback would be appreciated.