Hackettstown, N.J. – The National Kitchen & Bath Association released the results of the 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 percent higher on various points,” stated 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 remodeling 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.
NKBA KBMI Methodology
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 percent from previous quarter; up 42 percent from previous year
- 33 percent anticipate an increase in Q4; 14 percent anticipate a decrease
Kitchen remodels sales volume:
- Down 6 percent from previous quarter; Up 36 percent from previous year
- 36 percent anticipate an increase in Q4; 13 percent anticipate a decline
Kitchen remodeling prices:
- Up 7 percent from previous quarter; Up 16 percent from previous year
- 14 percent anticipate an increase in Q4; 14 percent also anticipate a decline
Bathroom remodel sales volume:
- Down 9 percent from previous quarter; Up 85 percent from previous year
- 35 percent anticipate an increase; 10 percent anticipate a decline