The thing to do is to weigh your situation. Do you NEED to move? If so, then go for it. You can get your new home for a better price now than last year.
I'm not far from you. Let me know if I can help.
Dot Chance, The Chance Team
Keller Williams Realty
Can you hold onto the condo, maybe rent it out, and purchase the new home? Then when the market increases, sell the condo.
Most importantly, talk to your accountant. The tax benefits may actually outweigh the loss, too.
Have you had a CMA done on the condo you currently own to see what kind of a loss you are talking about? You are right to think that even if you might be selling your condo for less than you might have a couple of years ago, you will also be able to buy a home for less than you might have paid for it then as well.
I would be happy to give you a CMA on your home to see where your home's value currently stands.
Please feel free to give me a call or send me an email and we'll see if I can help you.
Take care and have a wonderful day!
Tisza Major, Realtor, Keller Williams (909) 837-8922