How is Orange County housing market now?

Should I wait longer to buy? Looks like some good value houses are gone very quick since last month. Should I buy now or wait till after summer? I didn't find any thing I really like yet. But I am worry about housing price go up quick again. So should I just buy a so-so house now or wait longer to for the one I like (I like 1 subdivision, but cuttently it doesn't have any houses on sale in my price range, either too big/expensive or too small/cheap).