• Sign In
  • Create Account
  • Sign Out
  • My Account
  • NEWS
  • PRODUCTS
  • A&D
  • INSTALLATION
  • MARKETS
  • AWARDS
  • EDUCATION
  • BUYER'S GUIDE
  • MEDIA
  • EMAGAZINE
  • SIGN UP
cart
facebook twitter linkedin youtube
  • NEWS
  • Breaking Flooring News
  • eNewsletters
  • PRODUCTS
  • Carpet & Area Rugs
  • Hardwood
  • Installation Products
  • Installation Tools & Equipment
  • Laminate
  • Resilient
  • Specialty
  • Tile & Stone
  • MARKETS
  • Commercial
  • Residential
  • AWARDS
  • Installation Awards
  • Top Flooring Products
  • EDUCATION
  • Continuing Education
  • Webinars
  • MEDIA
  • FLOOR Podcast
  • Videos
  • TISE 2025 Videos
  • Product Spotlights
  • eBooks
  • EMAGAZINE
  • eMagazine
  • Archive Issues
  • Contact
  • Advertise
search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
  • NEWS
    • Breaking Flooring News
    • eNewsletters
  • PRODUCTS
    • Carpet & Area Rugs
    • Hardwood
    • Installation Products
    • Installation Tools & Equipment
    • Laminate
    • Resilient
    • Specialty
    • Tile & Stone
  • A&D
  • INSTALLATION
  • MARKETS
    • Commercial
    • Residential
  • AWARDS
    • Installation Awards
    • Top Flooring Products
  • EDUCATION
    • Continuing Education
    • Webinars
  • BUYER'S GUIDE
  • MEDIA
    • FLOOR Podcast
    • Videos
    • TISE 2025 Videos
    • Product Spotlights
    • eBooks
  • EMAGAZINE
    • eMagazine
    • Archive Issues
    • Contact
    • Advertise
  • SIGN UP
Breaking Flooring NewsResidential Flooring

NKBA Forecasts Growth Despite Economic Headwinds

kitchen tile

Photo: Daltile.
 

July 20, 2022

Despite inflation and mortgage rate increases, the overall annual forecast for the kitchen and bath market still represents a double-digit increase over 2021, according to the National Kitchen and Bath Association (NKBA) 2022 Kitchen & Bath Market Outlook.

“This new Market Outlook report provides revised market size estimates and 2022 forecasts in the Kitchen and Bath Industry, as well as gauges the economic and housing market shifts that continue to impact our market,” said Bill Darcy, CEO of the National Kitchen & Bath Association (NKBA). “Despite some economic headwinds, kitchen and bath remodeling demand remains strong. Residential kitchen and bath spending is anticipated to grow by 16% to $189 billion in 2022.”

  • Full-year kitchen and bath spending is expected to reach $189 billion, 16 percent higher than 2021, yet $10 billion lower than the initial 2022 forecast.

  • New construction is projected to represent over 60 percent of industry revenues, driven by a record number of new home builds.  The report forecasts 21 percent YOY new construction growth, unchanged from the initial report in January.

  • Higher-end activity has been revised upward due to rapid home appreciation and client movement on deferred projects. With upwards of 20 percent gains, mid-range projects are expected to register the biggest YOY increases based on growth in new construction. Lower-end work projection has been sharply scaled back due to higher inflation causing many to put their projects on hold.

  • Nearly three in four homeowners are locked into mortgage rates below 4 percent, making it more cost-effective to remodel than to move. This, along with record-high homeowner equity per household and a high number of homes in prime remodeling years, bodes well for the second half of 2022.

  • While builders are working through the substantial backlog of homes in various stages of completion, the number of new housing starts are falling due to high mortgage rates and home prices. This combination has led to a shrinking gap between home starts and completions.

  • The Fed has tried to control inflation with three interest rate hikes this year, the latest in June. Of note: The last three times the Fed initiated a cycle of rate hikes, a recession ensued within a year.

“We anticipate moderate declines in kitchen and bath spending in the event of a recession next year,” Darcy said. “Our view is informed by improved housing and consumer fundamentals and a likely less severe recession, relative to recent history if one were to occur.”

KEYWORDS: housing market kitchen and bath National Kitchen & Bath Association

Share This Story

Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!

Recommended Content

JOIN TODAY
To unlock your recommendations.

Already have an account? Sign In

  • resilient flooring

    The 7 Types of Resilient Flooring

    The resilient flooring category is comprised of many...
    Resilient Flooring
    By: Resilient Floorcovering Institute
  • QuickDrain USA’s ShowerLine linear drain

    Tips for Curbless Shower Installation Using a Linear Drain

    Consider these four tips when planning for a curbless...
    Installation How-To
    By: Darryl Jones
  • 2024 New Flooring Product Guide

    2024 New Flooring Products Guide

    We explore this year's introductions in area rugs,...
    Residential Flooring
    By: FLOOR Trends & Installation Editors
You must login or register in order to post a comment.

Report Abusive Comment

Subscribe For Free!
  • eMagazine
  • eNewsletter
  • Online Registration
  • Manage My Preferences
  • Subscription Customer Service

Takeaways from the 2024 AHSG Convention & Member Outlook for 2025

Takeaways from the 2024 AHSG Convention & Member Outlook for 2025

What Shaw Flooring Network Dealers are Banking on for 2025

What Shaw Flooring Network Dealers are Banking on for 2025

Retailers Share Top Takeaways from Shaw Flooring Network Convention

Retailers Share Top Takeaways from Shaw Flooring Network Convention

Shaw Flooring Network Retailers Report Post-Election Sales Surge

Shaw Flooring Network Retailers Report Post-Election Sales Surge

More Videos

Popular Stories

AHF Products CEO Brent Emore

AHF Products Names Brent Emore CEO

Schluter waterproofing system

Waterproofing Wet Areas: Three Essential Methods to Protect Your Bathroom and Shower Installation

Starnet 2025 Carlsbad CA

Future-Proofing Success: How Starnet Members Are Building Resilient Flooring Businesses


Download the Free Moisture Meters Guide

Events

June 9, 2025

NeoCon 2025

A trade show for the commercial interior design industry.

December 1, 2030

Webinar Sponsorship Information

For webinar sponsorship information, visit www.bnpevents.com/webinars or email webinars@bnpmedia.com.

View All Submit An Event

Poll

Investing in your Business

What's Your Top Business Investment Priority for 2025?
View Results Poll Archive

Products

2025 BNI Interiors Square Foot Costbook

2025 BNI Interiors Square Foot Costbook

See More Products

FLOORtalk podcasts - Listen Now

Related Articles

  • kitchen remodel

    NKBA Forecasts Rise in Demand

    See More
  • NKBA-Logo

    NKBA Projects Strong Year-end Despite Cooling Confidence

    See More
  • NRF Logo

    U.S. Economy Poised for Solid Growth in 2025 Despite Rate Pressures

    See More
×

We’re rolling out the red carpet of flooring knowledge!

Stay in the know on the latest flooring retail trends.

JOIN TODAY!
  • RESOURCES
    • Advertise
    • Contact Us
    • Directories
    • Store
    • Want More
  • SIGN UP TODAY
    • Create Account
    • eMagazine
    • eNewsletters
    • Customer Service
    • Manage Preferences
  • SERVICES
    • Marketing Services
    • Reprints
    • Market Research
    • List Rental
    • Survey/Respondent Access
  • STAY CONNECTED
    • LinkedIn
    • Facebook
    • Instagram
    • YouTube
    • X (Twitter)
  • PRIVACY
    • PRIVACY POLICY
    • TERMS & CONDITIONS
    • DO NOT SELL MY PERSONAL INFORMATION
    • PRIVACY REQUEST
    • ACCESSIBILITY

Copyright ©2025. All Rights Reserved BNP Media.

Design, CMS, Hosting & Web Development :: ePublishing

search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
  • NEWS
    • Breaking Flooring News
    • eNewsletters
  • PRODUCTS
    • Carpet & Area Rugs
    • Hardwood
    • Installation Products
    • Installation Tools & Equipment
    • Laminate
    • Resilient
    • Specialty
    • Tile & Stone
  • A&D
  • INSTALLATION
  • MARKETS
    • Commercial
    • Residential
  • AWARDS
    • Installation Awards
    • Top Flooring Products
  • EDUCATION
    • Continuing Education
    • Webinars
  • BUYER'S GUIDE
  • MEDIA
    • FLOOR Podcast
    • Videos
    • TISE 2025 Videos
    • Product Spotlights
    • eBooks
  • EMAGAZINE
    • eMagazine
    • Archive Issues
    • Contact
    • Advertise
  • SIGN UP