Updates from Sally Shiekman
As a seasoned broker with deep roots in Aspen, Snowmass, and the Roaring Fork Valley, I’m passionate about sharing insight into our dynamic markets. Whether you're buying, selling, or simply staying informed, my goal is to help you navigate with clarity, confidence, and a local’s perspective.
Policy Meets the Peaks: How Tariffs Touch Our Local Market
October 9, 2025
By Sally Shiekman, Aspen Snowmass Sotheby’s International Realty
Tariffs might sound like a faraway policy debate, but they often show up in surprising places — like on our job sites here in the Roaring Fork Valley. When the federal government adds taxes on imported materials such as lumber, steel, copper, or appliances, it raises costs for builders everywhere. In mountain towns like Aspen and Snowmass, where hauling and labor are already expensive, those increases can feel magnified.
Higher material costs ripple through quickly. Developers may face slimmer profit margins or choose to postpone new projects altogether. Luxury construction will likely continue — high-end buyers tend to absorb added costs for the right home and view — but the greatest impact lands on the workforce and mid-range housing. A five or ten percent rise in materials can make modest projects financially unworkable, deepening the shortage of homes locals can afford.
Tariffs can also quietly feed inflation. When construction, transportation, and goods become more expensive, mortgage rates may drift higher as lenders react to broader economic pressures. That combination — rising costs to build and higher borrowing costs — can cool buyer activity, slow new development, and lengthen the time it takes to bring new inventory to market.
In the Roaring Fork Valley, supply is already constrained by geography and regulation, so any slowdown in new building tends to push prices higher for existing homes. Buyers at the upper end might not notice much change, but entry-level and second-home buyers could face tougher competition and fewer options. For builders, it’s another reason to get creative — sourcing locally, phasing projects carefully, and managing risk through design and timing.
The takeaway? Tariffs don’t stop our mountain towns from growing, but they can reshape how we build among them. While Aspen and Snowmass remain resilient, global trade policy still finds its way up the valley — one beam, one nail, and one project at a time.
Tariffs might sound like a faraway policy debate, but they often show up in surprising places — like on our job sites here in the Roaring Fork Valley. When the federal government adds taxes on imported materials such as lumber, steel, copper, or appliances, it raises costs for builders everywhere. In mountain towns like Aspen and Snowmass, where hauling and labor are already expensive, those increases can feel magnified.Higher material costs ripple through quickly. Developers may face slimmer profit margins or choose to postpone new projects altogether. Luxury construction will likely continue — high-end buyers tend to absorb added costs for the right home and view — but the greatest impact lands on the workforce and mid-range housing. A five or ten percent rise in materials can make modest projects financially unworkable, deepening the shortage of homes locals can afford.
Tariffs can also quietly feed inflation. When construction, transportation, and goods become more expensive, mortgage rates may drift higher as lenders react to broader economic pressures. That combination — rising costs to build and higher borrowing costs — can cool buyer activity, slow new development, and lengthen the time it takes to bring new inventory to market.
In the Roaring Fork Valley, supply is already constrained by geography and regulation, so any slowdown in new building tends to push prices higher for existing homes. Buyers at the upper end might not notice much change, but entry-level and second-home buyers could face tougher competition and fewer options. For builders, it’s another reason to get creative — sourcing locally, phasing projects carefully, and managing risk through design and timing.
The takeaway? Tariffs don’t stop our mountain towns from growing, but they can reshape how we build among them. While Aspen and Snowmass remain resilient, global trade policy still finds its way up the valley — one beam, one nail, and one project at a time.