Leave it to agents to give you a crappy answer. Find out what the inventory in months is, in the neighborhood of interest. If the inventory for homes in your broad price range is over 6 months, expect prices to drop. And, the bigger the number, the harder the downward correction. Sellers have to drop their prices in order to get the properties sold. This has been a metric used for housing for decades, and housing markets tend to (very slowly) revert to equilibrium between buyers and sellers. Inventories below 6 months typically provide a seller advantage - over 6 months a buyer advantage. Inventories are now average 10.9 months now, I believe, nationally.
I'm not telling you anything not commonly understood in the investment community. It doesn't mean you have to wait though - just lowball by an ungodly amount. Some sellers will eventually come around because they need to move or have to liquidate.. And, save some more money, and use a real estate lawyer for giving offers as well as for reviewing all settlement documents. It's not like sellers won't respond to your inquiry! And, you'll save the commissions.