As long as you stay in your rental, you have options.
As soon as you buy, you’re locked in, either on the way down or the way up.

With the market as volatile as it is, my personal take is to stay put in my rental until I see a bottom. After all, it isn’t like you’ll have just a week or you miss the boat and you’re priced out again. You’ll have plenty of notice that it is now the time to buy.