The Trump administration’s tariffs on imported goods from Canada, Mexico, and China are increasing the cost of building materials used in new residential construction and home remodeling projects. The National Association of Home Builders projects that these tariffs will raise the costs of building a single-family home in the U.S. by $7,500 to $10,000. These costs are typically passed along to the homebuyer, potentially hurting demand in an already sluggish U.S. housing market. Prices for building materials, including lumber, have been rising even as the White House has delayed its tariffs rollout on some products. The uncertainty created by the Trump administration’s tariffs policy will probably result in increased volatility for home sales and new home construction this year. — news from The Associated Press
