New tariffs on imports from Canada, Mexico, and China may raise U.S. home construction costs by up to $29,000, driven by pricier materials like lumber and gypsum.

The National Association of Home Builders warns this could worsen housing affordability, especially for first-time buyers. While some argue tariffs have a limited impact, builders fear the cumulative effect could further strain the market amid high inflation and interest rates.

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Peng, I. (2025, February 4). Trump tariffs risk $29,000 rise in US home construction costs. BNN Bloomberg. https://www.bnnbloomberg.ca/business/real-estate/2025/02/04/trump-tariffs-risk-29000-rise-in-us-home-construction-costs/