Should I buy now or wait?

[Christian Clauson]

 I live in Medford Oregon where I believe the housing market is at a very high point if not the peak. With this in mind I am somewhat intimidated to buy at such high prices. Is it better to wait a year or two to see if the price of housing here starts to drop? Or is it better to buy now, and hope for more appreciation? I may be overcautious, but I fear making the wrong decision. Please help, I need input! 

Thank you!