Plain and simple: when you are ready and you have the necessary financing in place. As the global economy has proven in the past, you cannot predict what the future will hold - all you can do is decide what you wish to do today. Whether the goal is to pay your own mortgage (assuming you require financing) or pay your landlord's mortgage, please do not get too concerned about when the best time to buy is, as the best time and place to buy is - when you are ready.
The Windsor-Essex County Association of Realtors® recently released their findings for the January 2017 market activity report and it was found that there was a 15.55% increase from the same time last year in 2016! The average price of a home is expected to rise 5% this coming year as inventory remains low, so if you are interested there is no better time than now.
According to the Windsor Star's Grace Macaluso, the average residential sale price rose to approximately $226,468 in 2016 and was up from 2015's report of $201,115.