Housing market braces for impact of tariffs

Beyond interest rates, tariffs are also playing a role in shaping the housing market. Recently, the U.S. Commerce Department imposed a 10% tariff on all timber and lumber imports and an additional 25% tariff on kitchen cabinets and furniture.

According to the National Association of Home Builders (NAHB), these tariffs could drive up the cost of building and owning homes, making the market even more competitive and limiting supply. The NAHB notes that the U.S. imports about one-third of the lumber it consumes because domestic production cannot meet demand.

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