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 National Association of Home Builders/Wells Fargo Housing Market Index dropped three points to 39 this month,

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

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.

NAHB/ Wells Fargo Housing Market Index: 39 vs. 42 consensus and 42 prior. Breaking news... check back for updates. More on the US Economy Recession Risk: What I'm Doing To Hedge Against A Potential Bear Market Headline retail sales rise less than expected in February;