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.
Russia’s Defense Ministry stated Sunday that it is still awaiting official confirmation from Ukraine regarding a planned exchange of prisoners of war and the bodies of fallen soldiers, which was scheduled to begin Saturday.
The European Commission pushed back Saturday against German media reports alleging it signed secret contracts with environmental NGOs to promote EU climate policy, calling the claims “false” and reaffirming its transparency in funding practices.
Russia announced that its self-imposed moratorium on deploying intermediate- and shorter-range missiles is coming to an end, accusing the United States and its allies of failing to reciprocate Moscow’s restraint.
Qatar's Emir Sheikh Tamim bin Hamad Al-Thani and French President Emmanuel Macron held a phone call to discuss the worsening humanitarian situation in Gaza and ongoing regional developments, Qatar’s Amiri Diwan announced Saturday evening.
Chinese Vice Premier He Lifeng, Beijing’s chief trade negotiator, is set to arrive in London on Sunday for a six-day visit, ahead of the inaugural meeting of the China-US Economic and Trade Consultative Mechanism scheduled for Monday, the Chinese Foreign Ministry announced.
Russia’s Defense Ministry stated Sunday that it is still awaiting official confirmation from Ukraine regarding a planned exchange of prisoners of war and the bodies of fallen soldiers, which was scheduled to begin Saturday.
The European Commission pushed back Saturday against German media reports alleging it signed secret contracts with environmental NGOs to promote EU climate policy, calling the claims “false” and reaffirming its transparency in funding practices.
Russia announced that its self-imposed moratorium on deploying intermediate- and shorter-range missiles is coming to an end, accusing the United States and its allies of failing to reciprocate Moscow’s restraint.
Qatar's Emir Sheikh Tamim bin Hamad Al-Thani and French President Emmanuel Macron held a phone call to discuss the worsening humanitarian situation in Gaza and ongoing regional developments, Qatar’s Amiri Diwan announced Saturday evening.
Chinese Vice Premier He Lifeng, Beijing’s chief trade negotiator, is set to arrive in London on Sunday for a six-day visit, ahead of the inaugural meeting of the China-US Economic and Trade Consultative Mechanism scheduled for Monday, the Chinese Foreign Ministry announced.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 8th, covering the latest developments you need to know.
Presidential candidate Miguel Uribe Turbay is in critical condition after being shot three times — including twice in the head — during a campaign event in Bogotá.
A 30-year-old woman was shot by police in Munich on Saturday evening after stabbing two people at Theresienwiese, a central park best known for hosting Oktoberfest.
Ukraine’s Security Service (SBU) has confirmed it carried out a third targeted attack against the Crimean Bridge, also known as the Kerch Bridge, early Tuesday morning, marking a new escalation in the ongoing conflict with Russia.
A strong 6.3 magnitude earthquake shook Japan’s Hokkaido prefecture early Monday, causing no reported injuries or damage, and no tsunami warning was issued, officials confirmed.
A sweeping travel ban ordered by U.S. President Donald Trump will go into effect early Monday, barring entry to citizens from 12 countries and imposing partial restrictions on travelers from seven others. The move, set to begin at 12:01 a.m. ET, has drawn strong reactions both at home and abroad.
Russia’s Defense Ministry stated Sunday that it is still awaiting official confirmation from Ukraine regarding a planned exchange of prisoners of war and the bodies of fallen soldiers, which was scheduled to begin Saturday.
The European Commission pushed back Saturday against German media reports alleging it signed secret contracts with environmental NGOs to promote EU climate policy, calling the claims “false” and reaffirming its transparency in funding practices.
Russia announced that its self-imposed moratorium on deploying intermediate- and shorter-range missiles is coming to an end, accusing the United States and its allies of failing to reciprocate Moscow’s restraint.
Chinese President Xi Jinping and Myanmar’s junta leader Min Aung Hlaing exchanged congratulatory messages on Sunday to mark the 75th anniversary of diplomatic relations between the two countries, reaffirming their commitment to deepening cooperation and mutual support.
Russia’s Defense Ministry stated Sunday that it is still awaiting official confirmation from Ukraine regarding a planned exchange of prisoners of war and the bodies of fallen soldiers, which was scheduled to begin Saturday.
The European Commission pushed back Saturday against German media reports alleging it signed secret contracts with environmental NGOs to promote EU climate policy, calling the claims “false” and reaffirming its transparency in funding practices.
Russia announced that its self-imposed moratorium on deploying intermediate- and shorter-range missiles is coming to an end, accusing the United States and its allies of failing to reciprocate Moscow’s restraint.
Qatar's Emir Sheikh Tamim bin Hamad Al-Thani and French President Emmanuel Macron held a phone call to discuss the worsening humanitarian situation in Gaza and ongoing regional developments, Qatar’s Amiri Diwan announced Saturday evening.
Chinese Vice Premier He Lifeng, Beijing’s chief trade negotiator, is set to arrive in London on Sunday for a six-day visit, ahead of the inaugural meeting of the China-US Economic and Trade Consultative Mechanism scheduled for Monday, the Chinese Foreign Ministry announced.
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