Kitchen & Bath Market Index (KBMI)
National Kitchen & Bath Association (NKBA) and John Burns Real Estate Consulting have partnered on the Kitchen and Bath Market Index (KBMI), a barometer of the business health of the industry
This quarterly industry index gauges the economic pulse of the kitchen and bath market, examining current conditions and future expectations in the industry. It also monitors issues and challenges industry professionals are facing in their businesses. The KBMI surveys and analyzes the sentiments of designers, manufacturers, retailers and building/construction firms who are members of the NKBA.
“As the leading trade association and advocate for the kitchen and bath industry, we continuously invest in research to provide guidance on performance, projections and challenges in the sector for our members and the market. We’re pleased to see that despite a softening in housing, the KBMI indicates positive growth and an optimistic sales outlook in the kitchen and bath sectors,” said Bill Darcy, NKBA CEO. “John Burns Real Estate Consulting is the preeminent research analysis partner in the housing space and we embarked on this joint venture to provide a reliable and frequent metric of industry performance and business health to our members and the market.”
Q4 2022 Report Available Exclusively for Paid Subscribers
Less Growth for Kitchen and Bath Industry in 2023
We are pleased to release the Q4 2022 NKBA / John Burns Kitchen & Bath Market Index (KBMI), the industry’s definitive gauge of kitchen and bath industry conditions. This quarterly index is the result of a partnership between the National Kitchen & Bath Association and John Burns Real Estate Consulting.
Executives in the kitchen and bath space tell us their businesses are prepared to weather an economic downturn despite their lack of confidence in the US economy.
Kitchen and bath industry professionals report 5% sales growth in 4Q22 on a year-over-year basis. 31% of industry professionals expect positive 2023 full-year revenue growth, a slightly more optimistic view versus last quarter’s guidance on 2023.
5 key takeaways from the 4Q22 Kitchen & Bath Market Index
- Anticipate continued growth into 2023.
- Strategies shift to “risk-proof” businesses in uncertain backdrop.
- 2023 projects will be smaller in scope.
- Project completions are up.
- Waning pricing power for discretionary projects will weigh on margins if industry professionals can’t successfully raise prices. Cancellation rates remain high.
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About NKBA and John Burns Real Estate Consulting
About the National Kitchen & Bath Association and the Kitchen & Bath Industry Show
The National Kitchen & Bath Association (NKBA) is the not-for-profit trade association that owns the Kitchen & Bath Industry Show® (KBIS), as part of Design & Construction Week® (DCW). With more than 10,000 member companies representing tens of thousands of members in all segments of the kitchen and bath industry, the NKBA has educated and led the industry since the association’s founding in 1963. The NKBA envisions a world where everyone enjoys safe, beautiful and functional kitchen and bath spaces. The mission of the NKBA is to inspire, lead and empower the kitchen and bath industry through the creations of certifications, marketplaces and networks. For more information, visit NKBA.org or call 1-800-THE-NKBA (843-6522).
KBIS® and NKBA® are registered trademarks of the National Kitchen & Bath Association.
About John Burns Real Estate Consulting
John Burns Real Estate Consulting is an independent research provider and consulting firm focused on the housing industry. John Burns founded the company in 2001 because he saw a need for better analysis on the housing market. The company has grown to a highly passionate team of research analysts and consultants in offices across the country, who work together to provide the most trusted source of US housing analysis. John Burns Real Estate Consulting’s research subscribers receive the most accurate analysis possible to inform their macro investment decisions, and the company’s consulting clients receive specific property and portfolio investment advice designed to maximize profits.