Better to make your decision based on your own circumstances and have a very long term view in mind. Although real estate still feels pretty highly priced, the reality is it is not like the stock market. It is very rare that it "crashes." 2008 was so unique, but it is recent enough that we all fear it happening again. But if you look at history, it is much more likely that prices "soften" not "crash." So it makes timing such a purchase not that big of a deal, unless you are planning to flip and sell the home again in the short term.

That said, I have met very few people who have regretted the decision to stay with a modest home over upgrading to a bigger, more expensive one.