U.S. single-family homebuilding dropped to a nine-month low in April as tariffs on imported materials combined with higher mortgage rates raised construction costs, which could hamper the housing market recovery this year.

U.S. single-family homebuilding fell in April as tariffs on imported materials and high mortgage rates remained major obstacles for the housing market. Single-family housing starts, which account for the bulk of homebuilding,

US housing starts increased in April with a pickup in multifamily home construction more than offsetting a decline in single-family homebuilding. Meanwhile, Import prices rose 0.1% month-over-month after falling 0.