Builders continue to face elevated building material costs that are exacerbated by tariff issues,” says National Association of Home Builders.

U.S. homebuilder sentiment dropped to a seven-month low in March as tariffs on imported materials raised construction costs, a survey showed on Monday.

The foundation of the US housing market appears to be cracking, as homebuilder sentiment plummeted to a seven-month low in March, signaling growing concerns about rising construction costs and economic uncertainty.