Homebuilders are expecting tariffs on certain construction materials to impact their costs. While the effects won't be immediate, price increases could come soon.
Homes currently under construction are being built with materials purchased before tariffs kicked in, said Ken Peterson, vice president of sales and marketing for Shea Homes Arizona.
Peterson is expecting tariffs to eventually add $1.50 to $2 a square foot to Shea Homes houses it builds, for a total increase of anywhere between $8,000 and $10,000.
"Today, since there is inventory stock from the builders, there's an opportunity to get a home at an attractive interest rate and at a lower price," Peterson said.
