U.S. homebuilder sentiment fell to its lowest level in seven months in March, as rising tariffs on imported materials have driven up construction costs, according to the latest survey from the National Association of Home Builders (NAHB) and Wells Fargo.
The Housing Market Index (HMI) dropped three points to 39—the lowest reading since August—well below economists’ expectations of 42.
The decline in builder confidence has erased the gains seen after President Donald Trump’s election victory last November and mirrors similar drops in consumer sentiment. In recent weeks, Trump imposed and then suspended a 25% tariff on most goods from Canada and Mexico—measures that would have raised U.S. duties on Canadian lumber to nearly 40%—while tariffs on Chinese goods increased to 20% and new levies on steel and aluminum went into effect.
“Construction firms are facing added cost pressures from tariffs,” said NAHB chief economist Robert Dietz. “Data from the HMI March survey reveals that builders estimate a typical cost effect from recent tariff actions at $9,200 per home. Uncertainty on policy is also having a negative impact on home buyers and development decisions.”
New home construction is particularly vulnerable, as it relies heavily on imported materials such as lumber and essential household appliances. The survey further noted that current sales conditions fell to 43—the lowest level since December 2023—from 46 in February. While sales expectations for the next six months remained unchanged at 47, the measure of prospective buyer traffic dropped to 24 from 29 in the previous month.
With mounting cost pressures and policy uncertainty, industry analysts warn that the ongoing trade measures could dampen construction activity and slow down the recovery in the housing market, potentially affecting the broader economy.
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Tensions in the region remained high on Tuesday (10 March), as the United States and Iran exchanged increasingly sharp warnings, including threats over the strategic Strait of Hormuz, a critical artery for global oil supplies.
Iran and the U.S. exchanged threats on Tuesday, as U.S. Defense Secretary Pete Hegseth warned Tehran to expect the “most intense day" of attacks so far. Meanwhile, Iranian President Masoud Pezeshkian said “anyone who entertains the illusion of destroying Iran knows nothing of history."
The Strait of Hormuz has become a focal point of global concern as tensions rise following the conflict involving Iran, the United States and Israel. Tehran has threatened to block the strategic waterway, raising fears of disruption to global oil shipments and energy markets.
Reports of so-called “acid clouds” moving from Iran towards Central Asia are not supported by scientific data, national hydrometeorological services in Kazakhstan, Uzbekistan and Kyrgyzstan say, adding there is no threat to the region.
Tensions in the region remained high on Tuesday (10 March), as the United States and Iran exchanged increasingly sharp warnings, including threats over the strategic Strait of Hormuz, a critical artery for global oil supplies.
Global oil prices surpassed $119 a barrel on Monday (9 March, 2026), an almost four year high, as the Middle East conflict rumbled on.
China has urged Afghanistan and Pakistan to resolve their dispute through dialogue after Chinese envoy Yue Xiaoyong met Afghan Foreign Minister Amir Khan Muttaqi, as fighting between the two neighbours entered its eleventh day.
Entry and exit across the state border between Azerbaijan and Iran for all types of cargo vehicles, including those in transit, will resume on 9 March, according to a statement by the Cabinet of Ministers of Azerbaijan.
Iran named Mojtaba Khamenei to succeed his father Ali Khamenei as supreme leader on Monday (9 March), signaling that hardliners remain firmly in charge, as the week-old U.S.-Israeli war with Iran pushed oil above $100 a barrel.
U.S. Ambassador to the United Nations, Mike Waltz, has addressed the U.N. Security Council, saying the world must consider how effective its engagement with the Taliban-run country is as millions face hunger.
British MPs have rejected a proposal to introduce an Australia-style ban on social media for under-16s, opting instead to give ministers flexible powers to impose restrictions on platforms.
Australia has granted humanitarian visas to five Iranian women footballers who sought asylum, fearing persecution after refusing to sing their national anthem at an Asia Cup match.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 10th of March, covering the latest developments you need to know.
U.S. President Donald Trump called his recent phone conversation with Russian President Vladimir Putin “very good.” The two leaders spoke on Monday about the situation in Iran and other international issues.
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