The title says it all. It looks as though 2016 is not going to get any better so why wait to get less for your home. You have two choices, sell now or wait until the market improves. They predict that MAYBE 2017.
If you're looking to sell and then buy, you're fine. It's a relative, you'll get less for your home than you would have this time last year BUT you will also be paying less for the home you purchase.
If you're a buyer then, right now the world is your oyster. Prices are declining, it's a matter of when you want to get into your new home.
If you're an investor, now if a great time to buy BUT BEWARE. With the price of the Canadian dollar, supplies are costing more across the boarder. If you are looking to sit on the property and rent it out until the market get's better that's great BUT renter are harder and harder to find and rental rates are declining as well. Make sure you buy in a great location close to shopping, public transit, and schools.
Drop me a line for more details.