This is a complicated question, depending on your cash position, where you want to buy, alternatives to buying, risk tolerance, future interest rates, and forward plans (5-10 years).
No one else can tell you that you shouldn't buy right now, if you can afford a house, need a house, and are willing to potentially be stuck under water for 5-10 years if prices go down, there are good reasons to purchase in this market. Just know going in that inventories are at historic lows, prices are very high, terms for purchasers are bad (in many markets), and many people are going to regret rushing in and purchasing homes in haste because they are worried about missing out, due to how quickly homes are selling.
No one else can tell you that you shouldn't buy right now, if you can afford a house, need a house, and are willing to potentially be stuck under water for 5-10 years if prices go down, there are good reasons to purchase in this market. Just know going in that inventories are at historic lows, prices are very high, terms for purchasers are bad (in many markets), and many people are going to regret rushing in and purchasing homes in haste because they are worried about missing out, due to how quickly homes are selling.