Tariffs on lumber and appliances set stage for higher costs on new homes and remodeling projects

Source: Associated Press

Tariffs on lumber and appliances set stage for higher costs on new homes and remodeling projects

ALEX VEIGA and MAE ANDERSON
Mon, March 17, 2025 at 6:26 AM EDT 6 min read

Shopping for a new home? Ready to renovate your kitchen or install a new deck? You'll be paying more to do so.

The Trump administration’s tariffs on imported goods from Canada, Mexico and China — some already in place, others set to take effect in a few weeks — are already driving up the cost of building materials used in new residential construction and home remodeling projects.

The tariffs are projected to raise the costs that go into building a single-family home in the U.S. by $7,500 to $10,000, according to the National Association of Home Builders. Such costs are typically passed along to the homebuyer in the form of higher prices, which could hurt demand at a time when the U.S. housing market remains in a slump and many builders are having to offer buyers costly incentives to drum up sales.

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Read more: https://finance.yahoo.com/news/tariffs-lumber-appliances-set-stage-102643115.html