No properties to buy

[Renee Ren]

Hi folks, I'm in Orange County, CA. The real estate market in my local market is extremely hot right now. There is no inventory and properties are flying off the market. I'm looking to buy a SFR around 600k and build an ADU. With that price range the active listing has only been on the market for a day or two before it goes to escrow. I heard the market is going to shift this year since the interest rate is rising. Shall I wait a bit longer to buy or move to a less hot market. It looks like all major markets are hot such as Phoenix, Dallas, Austin and Orlando. Any thoughts?