Hackettstown, N.J. – The National Kitchen & Bath Association (NKBA) released the Kitchen & Bath Market Report for the fourth quarter. Although results convey a slight drop-off from third quarter in number of remodels and budgets, showroom visits held steady from a year ago and with marked increases from 2009 and 2010, optimism for the first quarter of 2012 remains high.
“Although numbers dropped off at the end of 2011, optimism is high and undeterred for the anticipated outcome of the first quarter in 2012,” stated Alan W. Zielinski, CKD, 2012 NKBA President. “Dealers are very optimistic, with the NKBA Kitchen & Bath Market Index surging from +9 to +32.”
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 +32 for the fourth quarter, showing that kitchen and bath dealers forecast a healthy expansion in the market over the next three months.
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
Down 3 percent from previous quarter; 0 percent difference from previous year
70 percent anticipate an increase in Q1; 3 percent anticipate a decrease
Kitchen remodels sales volume:
Down 20 percent from previous quarter; Down 49 percent from previous year
73 percent anticipate an increase in Q1; 3 percent anticipate a decline
Kitchen remodeling prices:
Down 11 percent from previous quarter; Down 14 percent from previous year
35 percent anticipate an increase; 4 percent anticipate a decrease
Bathroom remodel sales volume:
Down 2 percent from previous quarter; Down 11 percent from previous year
62 percent anticipate an increase; 3 percent anticipate a decline
Bathroom remodeling prices:
Down 1 percent from previous quarter; Down 3 percent from previous year
34 percent anticipate an increase; 6 percent anticipate a decline
Kitchen and bath revenue:
Down 22 percent from previous quarter; Down 48 percent from previous year
68 percent anticipate an increase; 3 percent anticipate a decline
About the National Kitchen & Bath Association
The National Kitchen & Bath Association (NKBA) is a non-profit trade association that has educated and led the 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, and an extensive glossary of remodeling terms.
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