Are tariffs impacting Snohomish Countys housing industry? Heres what experts think

Permits for new housing projects in Snohomish, King, and Pierce counties have fallen by approximately 33% in the first quarter of this year compared to last year. Experts, including Allison Butcher from the Master Builders Association, link this decline to uncertainty created by tariffs on imports and rising interest rates, which have left many buyers hesitant. Construction spending also decreased by 0. 4% from March to April, continuing a trend observed since the year's start. Butcher warns that tariffs could double the cost of Canadian lumber, a vital component in home construction, as U.

S. lumber mills operate at only 64. 4% capacity. Local builders, such as NorthLight Custom Builders, maintain regular communication with clients about potential price increases due to tariffs, while Irons Brothers Construction monitors fuel costs that could further affect project expenses. The housing market faces challenges as uncertainty could worsen the existing housing shortage.

Butcher emphasizes the importance of constant communication between builders and clients to navigate these challenges effectively. The adaptability of local builders, who have previously weathered disruptions like COVID-19, remains crucial in this evolving landscape.