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Market drops - a good time to buy?

I have recently gotten approval for a small mortgage which I have been working towards for some time. With the current pandemic I have decided to hold out as prices may be about to drop. What are the general thoughts on this? Should I continue and make a purchase at current asking prices? Should I make a lowball offer of 20% less than the asking now? Should I wait a month or two and see where things fall?

submitted by /u/MagnumPewPews
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source https://www.reddit.com/r/RealEstate/comments/fscbra/market_drops_a_good_time_to_buy/
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