Overview March 2013

Kitchens & Baths

Top Industry Trends for 2013

Gray color schemes in both kitchens and baths have witnessed a dramatic escalation since 2010, particularly over the past year, according to the National Kitchen and Bath Association’s annual design trends survey. Used currently in 55% of kitchens and 56% of bathrooms, shades of gray are growing in appeal, creating chic, sophisticated spaces that many consumers desire.

 Continuing an important trend from last year, transitional-style kitchens and baths have clearly surpassed traditional styles, a longstanding favorite until 2012.

While the use of quartz finishes was in slight decline last year, it has surfaced as a clear trendsetter this year, coming a close second to perennial favorite granite.

Homeowners were spending more on their kitchen and bath remodels a year ago -- however, the latest report reveals a slightly less robust situation. The total cost of the average kitchen and of the average bath design in 2012 was $51,050 and $18,575, respectively, but the most recent figures have dipped to $47,308 in kitchens, while staying steady at $18,538 in bathrooms.

Although some trends from the past year continue to grow significantly into 2013, the last three months of 2012 have also laid the groundwork for new ones to thrive. Some of the other top trending design components include white painted cabinetry, glass backsplashes, LED lighting, touch-activated faucets and satin-nickel finishes in kitchens; and ceramic/porcelain tiles and undermount sinks in bathrooms.

Charts to go with Top Industry Trends for 2013 (above)

Grays in Kitchens

2010 – 9%

2011 – 17%

2012 – 33%

2013 – 55%

Grays in Bathrooms

2010 – 12%

2011 – 21%

2012 – 40%

2013 – 56%

Associations

Houston Contractor to Chair NAHB Remodelers

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Bill Shaw, GMR, GMB, CGP, owner of William Shaw & Associates in Houston, was appointed as the 2013 chairman of the National Association of Home Builders (NAHB) Remodelers in February at the International Builders’ Show in Las Vegas.

Shaw has been in the residential remodeling business for more than 25 years, following a career as an officer in the U.S. Navy. He is a past president and board member of the Greater Houston Builders Association Remodelers Council, as well as the past president of the Texas Association of Builders Remodelers Council. Currently, Shaw serves on the board of directors of NAHB and is chair of the NAHB Joint Councils Committee. He also teaches NAHB Education courses.

Home Prices

Biggest Increase Since 2006

CoreLogic’s December CoreLogic HPI report says home prices nationwide, including distressed sales, increased on a year-over-year basis by 8.3 percent in December 2012 compared to December 2011. This change represents the biggest increase since May 2006 and the 10th consecutive monthly increase in home prices nationally. The CoreLogic Pending HPI indicates that January 2013 home prices, including distressed sales, are expected to rise by 7.9 percent on a year-over-year basis from January 2012 and fall by 1 percent on a month-over-month basis from December 2012, reflecting a seasonal winter slowdown.

Home Improvement App

Zillow Reaches out to Remodeling Market

With Zillow Digs, homeowners can find and connect with local professionals such as architects, contractors and designers. Professionals can create a free Zillow Digs profile with contact information, photos of past work and a link to their websites. Professionals also can market their expertise and their business by creating Boards, commenting on others' photos and answering questions. In addition users can browse thousands of photos and see Zillow's Digs Estimates for the estimated cost, based on where they live, of the actual bathrooms and kitchens they are viewing. They can create, save and share Boards of ideas and decor, browse Boards created by others, comment on photos and follow people with similar interests.

Finances

Publication Offers Look into Finances of Remodelers