Homeowners are taking on larger projects but there remains higher demand for lower-priced products and finishes, according to the National Kitchen & Bath Association (NKBA) and John Burns Real Estate Consulting (JBREC), which released the Q4 2020 Kitchen & Bath Market Index (KBMI).
“We’re seeing an incomparable surge in homeowners looking to rearrange floor plans, tear out complete kitchens, baths and other rooms to make space for increased activity within the home, and generally create a space that better suits their evolving needs,” said NKBA CEO Bill Darcy. “Our industry’s greatest challenge will be operational, as our members aim to meet growing demand from homeowners with an unmatched appetite for remodeling.”