>>Hoping it goes way down so I can buy material for the new house cheaper.
Wood building materials has already plummeted quite a bit.
Lumber, OSB and plywood are the least expensive materials based on volume that goes into building a house.
Yes, they are all down from their highs of a couple years ago. However, try buying doors, windows, appliances, kitchen cabinets, flooring, romex, electrical panels and LABOR.
I bought a Marvin 6’ sliding door just recently. It was $2200. Just for the door. Plus installation.
It costs around $200-$250/sq ft in many markets now to build a new home.