A buyers market. This is a good time to buy, rates may be going up, but those rates may also come down in the future and people may be able to re-finance at lower interest rates.
For myself, I do not think there is a bad time to buy a house. Housing in the long run will go up in value in most cases.
A home is an investment in life, not an investment to be sold or bought willy-nilly style for profit.