How US Tariffs Could Make Buying a Home in Canada More Expensive

The US has announced 25% tariffs on steel & aluminum, plus potential duties on lumber and other Canadian exports—but what does this mean for home buyers, sellers, and investors in Canada?

How Will US Tariffs Impact the Housing Market?

1️⃣ New Home Construction Costs Will Rise

• Lumber, steel, and aluminum are essential for home construction.
• Higher costs for builders = higher home prices for buyers.
• Some developers may delay or cancel projects, worsening Canada’s housing supply shortage.

2️⃣ Resale Homes Will Become More Valuable

• If new builds become too expensive, demand for resale homes will skyrocket.
• Fewer available homes → increased competition and higher prices.

3️⃣ The Rental Market Will Get Tighter

• With homeownership becoming more expensive, more people will turn to renting.
• Rents will rise, making affordability an even bigger issue.
• Investors may buy more rental properties, benefiting from higher rents.

Who Will Be Affected the Most?

• First-time homebuyers: Rising home prices will make it harder to enter the market.
• Builders & developers: Increased material costs may force them to slow down projects.
• Landlords & homeowners: They could see rising property values and increased rental demand.

Final Thoughts: Should You Buy Now?

If tariffs cause home prices to rise, buying sooner rather than later could save you thousands. If you’re thinking of buying or selling in the Greater Edmonton Area, now may be the right time to act.

Want expert advice on how this affects you? Contact our team today!

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