Should I buy now or wait?

[Brandon Vu]

Hello BP family, I'm brand new to the community and looking forward to do some REI in the near future. But first I need a primary home in SoCal. My family relocated to OC for a year now and is not new to the house price comparing to where we from in the Mid-West. Though we can afford a home in Irvine due to its location for schools and community but we are still hesitating whether we should buy now or wait since the house price is peaking. I got mix opinions from my friends and coworkers. But the majority of them said to wait it out. What do you guys think? Much appreciations to your inputs.