I am planning on building a PC during the summer.
I have already came up with an idea how my system is going to be.
I am planning on getting an HD7970 but I want to know are there going to be new gpu by summer?
Also what will the price range gonna be? (estimate)
By the summer new cards will be out. There is really no point in picking out a build now. We won't know prices until they are out. If this is your first build then now is the time to learn how to choose parts and how to assemble. If not then just wait until summer.
There will definitely be new GPUs released or close to release by summer. I don't know the price, but it will definitely be more expensive than the current generation. (Nvidia's and AMD's flagship GPU will probably be around $500). The price might be lower if Nvidia and AMD releases their GPUs around the same time. If they're really expensive, I'll probably stick to the HD 7970, which will go down further when the new GPUs come out.