Is real estate price drop really local

[Youwei Chen]

There is recent thread discuss whether it buyer market, and people mention real estate is local.

https://www.biggerpockets.com/forums/311/topics/62...

I live in North New Jersey, realtor mention for several areas, price are coming down, inventory are up, sale are slow. 

I am thinking investing in Kansa City and Indianapolis, however, the local market (NNJ) cooldown is causing significant psychological barrier for me. 

Should I really be concerned about what happening in part of NJ if I plan to invest in other state?  Will it be wise to wait few months in real estate?

from a new buy/hold investor that mainly use realtor.com, would appreciate any help :)