Q1 Kitchen and Bath Market Index Trends Down
The Kitchen & Bath Market Index (KBMI), produced jointly by the National Kitchen & Bath Association (NKBA) and John Burns Real Estate Consulting, dropped 28.8 points from Q4 2019 to 41.0 in the first quarter. A score of 50 indicates flat sales growth. The index measuring current conditions was 46.9, down from 66.9 in Q4. The indicator measuring future conditions was even less positive with a score of 19.8, down 56.8 points from Q4’s reading of 76.6.
The effects of COVID-19 on the kitchen and bath industry can now be seen in predictions that 2020 sales will contract by 13.7% compared to expected growth of 10.8% projected in last quarter’s survey.
The Q1 2020 report is based on findings from 651 NKBA members across four primary industry segments: design, building and construction, retail sales and manufacturing. See NKBA