Kitchen remodels on the rise from 2010
“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,” 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 (KBMI), 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, and the results are as follows:
Showroom visits
• Up 8% from previous quarter; up 42% from previous year
• 33% anticipate an increase in Q4; 14% anticipate a decrease
Kitchen remodel sales
• Volume is down 6% from previous quarter; up 36% from previous year
• 36% anticipate an increase in Q4; 13% anticipate a decline
Kitchen remodeling 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 remodeling 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
Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!
