What is going to happen to the housing market?

We were hoping to buy a home in the next year or two. What might happen? I know rates have gone down. I know that a lot of things related to house buying are frozen (inspections, movers, etc.). I know that employment is going to be more precarious so less people will be willing to risk buying. But what might happen that would better prepare us? If it matters we live in a very competitive housing market where people overbid and places go in days.