A "buyers' market" is just what it implies - a market in which buyers have the advantage and exploit it. It's not a market that rewards foot-dragging, hesitation or indecision.
Unfortunately, all the factors that created the buyers' market we have today have been reported so negatively and rampantly by various media outlets that buyers are themselves too spooked to even enter the fray. Strangely, people were buying like crazy during the previous sellers' market, when the advantage was actually all to the sellers.
That's when buyers didn't fear paying too much, and now that prices are so low and inventories so high, suddenly buyers DO fear paying too much! However, it's impossible to purposefully time the market to buy at the bottom and sell at the top.
Once the market begins to settle and subsequently improve (and it will), the amazing buying opportunities we've been seeing will begin to disappear. With decreased buying activity now, pent up demand for homes will explode when the market recovers, and buyers will once again be competing for the best homes.
Don't rely on luck in the marketplace - rely on planning. Make a careful decision with a predictable outcome. Has the market dropped enough, right now, to make such a purchase? Absolutely! Forget about the top and the bottom and enter your "safe zone" with confidence.