One of the first tariffs the President imposed was on lumber. As this post shows, the price of lumber has been increasing steadily. That’s partly because of higher demand due to economic growth. But it’s also due to the tariffs and increased the cost of housing in the U.S.
There is a seasonal pattern for lumber prices. Prices frequently peak around May, and bottom around October or November – although there is quite a bit of seasonal variability.
Tariffs on lumber, steel and aluminum are impacting housing costs. And rising costs – both material and labor – are headwinds for the building industry this year.