Maybe in a year, maybe in two...and then any amount you save will be more than offset by increases in prices of other materials and labor. People who postpone building in hopes of things becoming cheaper are usually sorely disappointed. My advice is to reduce your plan to something you can afford now and start building. And even if you trim your plan, there may well be unanticipated overages anyway. Sorry to be less than encouraging, but better to have a dose of reality now than later.

They may level off when pent-up Covid demand and supply issues are alleviated.

By 2024 things should go back to normal more or less.

"By 2024 things should go back to normal more or less"

What will normal be by 2024?

Deal, we're fairly close anyway.

I thought prices had peaked a month ago, then I checked lumber futures prices today and they're up another 30% with large swings, which shows that even the speculators don't know what prices should be.

Ridiculous prices, 2x4-8' is $8

It might stop rising, but it isn’t going down.

"It might stop rising, but it isn’t going down."

It will come down but typical construction material downward pricing, go up 500% then when the market flattens and corrects itself if come down 20%.

It will only come down when existing homes stop rising. Nationwide existing housing rose 11+% average, so some areas saw huge price increases for "used" homes ... new homes won't be cheaper any time soon.

When the overbought housing market collapses. Meantime, add another US$24K in wood costs for the average sized US home. (Methinks that's low.)

Here are some thoughts, but the short answer is "nobody knows for sure" https://amodernmountainhome.com/2021/03/05/build-now-or-wait/

Lumber requires labor and petroleum. In my lumber harvesting area, gas has gone from $3 to $4 per gallon.

It’s going to keep still going up for a while. Shortages for everything have driven prices for other things high as well.

https://fortune.com/2021/04/27/lumber-prices-are-up-232-and-it-could-spiral-out-of-control-in-the-next-few-months/

NAHB updated. Average home prices are up $36,000 due largely to soaring wood prices. So I've added C$90K+ to my projections. Goodbye...hmm, landscaping, luxe appliances, stone flooring.... (And my 17-year old pickup is now officially a patina classic.)