Tariffs impacting local housing market, but not how experts thought [Video]

CORALVILLE, Iowa (KCRG) – Tariffs are starting to influence the local housing market, but not how some people predicted.

When the tariffs first went into place, particularly the big hike on Canadian imports, a real estate broker named Adam Pretorius said he expected the prices of building materials and remodeling projects to go up and the market to start to slow down. So far, that’s not quite what they’re seeing.

“We customize every home that we build,” said Kim Marshall, the CEO of Elevation HomeBuilders in Iowa City.

Marshall and her team said they’ve been keeping an eye on the impact of tariffs since they were first proposed. She predicted a luxury home she works with could see a $33,000 increase if the tariff threats become reality.

“We’ve actually been getting quite a bit of notification from our lumber vendors, flooring is another big one, appliances, light fixtures,” she said.

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