How might Trump’s Tariffs effect the Housing Market?

“[National Assotication of Home Builders] estimates that, as of 2024, about 7% of all goods used in new residential construction are imported from a foreign nation.” (3)

According to Nadia Evangelou, a senior economist and director of real estate research for the National Association of REALTORS®, New Construction homes have the most to worry about with the looming tariffs on the docket. An expected builder cost increase of around $9200, due to tariffs on lumber, steel, aluminum, copper, home appliances and more, which will more than likely be passed down to the consumer, + mark up. (3)

Economists point out that these tariffs will not have the same impact from state to state and that these are more dependent on each states level of exports and imports as a percentage of their GDP. States with lower levels of exports are charted to experience a lighter blow. South Carolina’s exports make up 10.9% of it’s GDP. (3)

“The housing market thrives where people want to live and work—not merely where goods are produced or shipped.” (3)

Thankfully, our local upstate area has worked hard for the last 10-15 years in bolstering it’s economy and driving relocation from other areas due to it’s lower cost of living and quality of life.

Source: National Association of Realtors, How Tariff Policies could Impact Your Market. https://www.nar.realtor/magazine/real-estate-news/how-tariff-policies-could-impact-your-market

Felicia Page, Published May 1, 2025