The price of a home is always a function of supply vs demand.
The home represents supply and you represent demand.
While you wait for the price to drop, you are no longer part of the equation, because you have no intention to buy (demand).
Should you place an offer, and the seller does not want to accept or counter, then the seller has no intention to sell (supply).
Until both sides see each other and begin to negotiate (in writing) ... just assume neither side exists.
If neither side exists, then this question (to begin with) is mute.