I would use the credit quickly. If the price looks good to you, grab it.

The covid pandemic is ending. The US is vaccinating quickly, and - more importantly for this discussion - the country has basically decided to move on. Within a month or so, almost all covid restrictions will be pretty much gone, and they're not coming back. So - as you well put it -- a lot of pent-up demand for flights is going to be released quickly, particularly for vacation destinations like yours. Canada will be slower to exit the pandemic, but it won't be more than 2-3 months behind the US, I figure.

No one can really predict what will happen with prices going forward, but as has been stated above, if they drop significantly, you can cancel and rebook at no cost. And, if prices soar, you'll have locked in your trip.

FWIW, I booked a late July trip from NYC to Israel last November (not on WS, obviously - DL) because the fare was absurdly cheap and there's absolutely no penalty for cancellation. So that's my two cents.