Rates falling tends to pull more buyers into the market at the same time, which historically pushes prices up faster than the rate savings offset, especially in a market that already sits at only 1.63 months of supply rather than a deep buyer's market.
A mortgage taken today can usually be refinanced without penalty at renewal, typically every five years in Saskatchewan, so locking in a home now and refinancing into a lower rate later is a realistic path rather than a compromise.
Waiting makes sense only if you are not otherwise ready; if you are ready, buying into today's price and refinancing later is usually the stronger play. Get your hand-reviewed valuation from Joel Dyck.