Kitchen and Bath Market Index Jumps in Q3
The Kitchen & Bath Market Index (KBMI), produced jointly by the National Kitchen & Bath Association (NKBA) and John Burns Real Estate Consulting, grew 17.7 points from the second quarter to 61.9 in the third quarter. The index measuring current conditions was 56.5, skyrocketing 25.2 points from Q3. The indicator measuring future conditions was even more positive with a score of 66.9, up 5 points from Q4’s reading of 61.9.
The very favorable KBMI indicates that negative effects from the COVID-19 pandemic on the kitchen and bath industry have appeared to wane, with predictions that 2020 sales will increase by 1% compared to fears of a 4.4% drop projected in last quarter’s survey.
The Q3 2020 report is based on findings from 515 NKBA members across four primary industry segments: design, building and construction, retail sales and manufacturing. See Woodworking Network and NKBA