Tariffs Could Add $9,200 Per Home | Global News Avenue

Home builders are specifying thousands of dollars in additional fees as tariffs begin to impact the housing market.

The National Association of Housing Builders (NAHB)/Wells Fargo Housing Market Index fell to 39 in March, the lowest level since last August. Worrying that rising construction costs will help reduce home builders’ emotions Second consecutive month. The survey shows that the builders plan to do tariffs on building materials, with an additional cost of $9,200 per house.

President Donald Trump Tariff Policy Often targeting house building materials. He has implemented a 25% tax Steel and aluminum imports And threaten to impose taxes Canadian wood and concrete.

“Builders continue to face increased building material costs due to tariff issues, as well as other supply-side challenges, including labor and lot shortages,” said NAHB Chairman Buddy Hughes.

Homebuyer traffic has dropped to its lowest level since 2023

The decline in home builder sentiment is due to other surveys showing that people in other parts of the economy are starting to worry about tariffs. consumer and Small Business Loss of confidence in the future of the economy.

A lack of confidence may drive new home sales. NAHB survey shows that home builders have reported the least amount of home hunters since December 2023.

“uncertain The policy also negatively impacts home buyers and development decisions. NAHB chief economist Robert Dietz said.

However, Hughes also said homebuilders are seeing certain regulatory relief from the Trump administration, including measures to suspend some building regulations requirements and modify environmental licensing procedures to speed up approval.