If you are investing, the "condo market" is not what matters to you, it is the "rental market" that matters to you. You will have calculated that you earn a profit so long as you get more than $X rent, then the REAL risk to you is that rental prices fall below $X. I have no idea what is going to happen to rental prices, but that's what you should be worrying about.
Sure, you could "lose" money by buying now and finding out you could have bought for even less next year, but so long as you aren't actually losing your profits, that sort of thing is just par for the course.
