If you can rent for a while it's not a bad idea and wait to see where house prices are in 2-3 years, this pace can't keep up, I've seen three of these crazy run-ups and they always end the same way, prices go down. WE have pets so finding a rental is a problem, I've met a few people selling that are moving in with their parents and banking the money for now and they're going to wait and see what happens.