Buying a primary home in this crazy market

[Shrikant V.]

We have been on the lookout for the past 5-6 months for a primary home. There were very few homes in our market during Jan-March, and April seems to be a bidding war on the few homes(still not that many) that are popping up(between 40-60k on 250-300k homes) from the previous estimates 6 months ago. We are so frustrated that we are ready to cave in and pay whatever to own a house. Just wanted to seek opinions here on whether we should still hold on for a few more months or not. We do not have a real urgency(no school going children etc), but would like to move to a home sometime in the near future. 

Any thoughts appreciated!