better price is off course a pro but job security is cons.
if you lose your job and cannot pay installments, gg.

Whether prices for new launch property will go down, hard to say, the cost of raw materials + vaccine optimism + incentives mean a lot of developers are still willing to sell at atas price unless they're marked for affordable housing/aim for B40 market. Many high rises are also taking at least 3 to 4 years completion, so be aware that you won't be even able to live in them until you get the keys after they complete.

Bear in mind also that if economy recovers, even with property glut there will be rising interest rates.

It also depends on price range of property + location. If location near central business districts, even properties around 600k to 750k range get snapped up very quickly as long as price psf under RM800 psf. Anything under RM500k will get bought even quicker, unless the location is bad (no public transport / no amenities nearby).

If subsale, if the location is matured the owners mostly paid off loan or near finished payoff loan, they can happily play waiting game if they want. Right now there's lots of good deals for subsale, just that you really need to take your time to look.

Note also that if you're buying high rise, very hard for property price to appreciate if your intent is to sell off.

If you're buying for own stay, there's no real "right time", if within your means and price is within actual market value, go for it, unless you plan to relocate elsewhere within 10 years of moving in.