The on-again, off-again nature of the tariffs and threats of higher levies have already had a negative effect on housing affordability by creating business uncertainty and disrupting building material supply chains. When asked about the impact of tariffs on their business in the NAHB’s April survey, 60% of builders reported their suppliers have already increased or announced increases of material prices due to tariffs. On average, respondents reported that suppliers increased their prices by 6.3% in response to announced, enacted or expected tariffs. …And in a May survey of builders, 78% reported difficulties pricing their homes recently due to uncertainty around material prices. NAHB estimates that approximately 7% of all goods used in new multifamily and single-family residential construction originated from a foreign nation in 2024. The cost of building materials has already risen by 41.6% in the five years since the pandemic, which is far higher than the rate of inflation (21.9%).