To further the question, when does the new seasons inventory come out? Like for cars it traditionally was Sept, though they are all over the place now. Guess i'm a little confused when 2014 stuff will become previous season equipment.
Depends on your size. If you're absolutely average (like me: 170lbs 5'11"), now is probably the best time to buy at about 40% off. By the time 2015 gear arrives around August, there's only awkward sizes left of the good stuff.
If you have your eye on something specific in your size and it is showing up at 30 / 40 % off right now, I would grab it. You could wait till later for a bigger discount, but by then your size could be gone. It's your roll of the dice.
The scarcity of normal size stuff is greatly exaggerated. If you want a very specific item (specific brand/model in your size) now is probably a good time. But if you wait until fall, you'll easily find many things that fit and are of similar quality. Evo and backcountry and theclymb and such are even still selling 2012/2013 stuff in normal sizes.