I feel your pain... I was looking at building a house (with a national builder) and the historical prices in that neighborhood showed that the price went up about 30% in the past year. I think most of that was just the general price of housing, not just raw materials.

We decided to stay put in our existing home for the time being. I don't think housing prices will likely go down much, but maybe level off a bit? The rise in the Case-Shiller index certainly doesn't look sustainable: https://fred.stlouisfed.org/series/CSUSHPINSA