Survey on K&B remodels shows mixed results
Results from the third-quarter survey from the National Kitchen & Bath Association (NKBA) indicated a 42% rise in showroom traffic and a 36% increase in kitchen remodel sales volumes from one year ago, as well as a significant increase -- 85% -- in bathroom sales over the third quarter of 2010. Overall, kitchen and bath remodeling revenues reported by NKBA dealer members rose 69% in year-over-year figures.
Most quarterly comparisons showed declines, however. Kitchen remodels were down 6% from the previous quarter by sales volume; bathroom remodels also declined, by 9%. Kitchen and bath remodeling revenues rose 4% in the third quarter, however, due largely to an increase on money spent on these projects.
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.
“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 VP 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.”