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8th December 2017
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NKBA Market Report : "Although optimism is faded, revenues continue to rise"
The National Kitchen & Bath Association released the results of the US Kitchen & Bath Market Report for the third quarter, reflecting a rise in showroom traffic and an increase in kitchen remodels from one year ago. Although the number of bathroom remodels declined from the second quarter, results show a significant increase over the bathroom sales of a year ago.
"Although optimism seems to be taking a hit, the numbers today from a year ago are encouragingly higher, ranging in increase from 4% to 85% higher on various points," reports Bill Darcy, Executive Vice President of the NKBA. "The volatility of the third quarter is balanced by the overall increased consumer traffic, sales volume and remodelling prices in the past year."
The NKBA Kitchen & Bath Market Index, which measures the confidence of kitchen and bath dealers on a scale of -60 to +60, is at +9 for the third quarter, showing that kitchen and bath dealers expect only slight growth in the market through the following quarter.
The NKBA KBMI is determined by averaging expectations of NKBA member kitchen and bath dealers during the next quarter based on expected increases (+1), decreases (-1) or no change (0) in each market condition. That total is divided by the number of dealers surveyed and multiplied by 10, which gives the KBMI a range of -60 (pessimistic) to +60 (optimistic). The NKBA KBMI, surveys approximately 150 kitchen and bath dealers across North America each quarter.
NKBA KBMI Overview
- Up 8% from previous quarter; up 42% from previous year
- 33% anticipate an increase in Q4; 14% anticipate a decrease
Kitchen remodels sales volume:
- Down 6% from previous quarter; Up 36% from previous year
- 36% anticipate an increase in Q4; 13% anticipate a decline
Kitchen remodelling prices:
- Up 7% from previous quarter; Up 16% from previous year
- 14% anticipate an increase in Q4; 14% also anticipate a decline
Bathroom remodel sales volume:
- Down 9% from previous quarter; Up 85% from previous year
- 35% anticipate an increase; 10 % anticipate a decline
Bathroom remodelling prices:
- Up 30% from previous quarter; Up 16% from previous year
- 18% anticipate an increase; 9% anticipate a decline
Kitchen and bath revenue:
- Up 4% from previous quarter; Up 69% from previous year
- 32%anticipate an increase; 15% anticipate a decline
The NKBA is a non-profit trade association with nearly 40,000 members that has educated and led the US kitchen and bath industry for more than 45 years. NKBA.org provides consumers with an inspiration gallery of award-winning kitchen and bath designs, as well as articles, tips, an extensive glossary of remodelling terms, and illustrations and explanations of planning guidelines. At NKBA.org, consumers can also find certified kitchen and bath professionals in their areas, submit questions to NKBA experts and order the free NKBA Kitchen Planner and NKBA Bath Planner.
T: 1-800-THE-NKBA (843-6522)
11th November 2011