Build Home Now or Wait to Build

The wife and I are thinking about building a custom home this year in Ascension Parish. We are in the middle of developing our plans right now and looking into which builder's to use. At the moment , I am hearing (and even got a preliminary quote) about $190 - $200 / sq ft to build a 2200 - 2300 sq ft home. Does anyone expect the price to build homes to come down at all over time? Or is this to new "norm"? I know it all depends on the prices of materials and the market. We are just debating on if we should move forward or take the wait-and-see approach on what the market does.