Q1 Figures Reflect Second Highest Mark in Two Years
The National Kitchen & Bath Association (NKBA) released the Kitchen & Bath Market report for the first quarter. Results conveyed that showroom traffic, which is traditionally up and down from quarter to quarter, rose 8% in the first quarter of the year to 24 consumers visiting the average kitchen and bath showroom in March. While this remains 13% down from a year ago, Q1 of 2011 was particularly a standout quarter. This quarter’s figure is the second-highest mark over the past two years.
“We are encouraged to see the numbers supporting the optimism felt by dealers. With showroom traffic up, the industry is sure to see some stabilization in the next quarter,” stated Alan Zielinski, CKD, and 2012 NKBA President.
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 +32 for the fourth quarter, showing that kitchen and bath dealers forecast a healthy expansion in the market over the next three months.
NKBA KBMI METHODOLOGY
The NKBA KBMI is determined by averaging expectations of NKBA member kitchen and bath dealers during the next quarter based on expected increases (+1), decreases (-1) or no change (0) in each market condition. That total is divided by the number of dealers surveyed and multiplied by 10, which gives the KBMI a range of -60 (pessimistic) to +60 (optimistic). The NKBA KBMI surveys approximately 150 kitchen and bath dealers across North America each quarter.
NKBA KBMI OVERVIEW
• Up 8 percent from previous quarter; Down 13 percent difference from previous year
• 59 percent anticipate an increase in Q2; 3 percent anticipate a decrease
Kitchen remodels sales volume:
• Up over 50 percent from previous quarter; Up 17 percent from previous year
• 67 percent anticipate an increase in Q1; 4 percent anticipate a decline
Kitchen remodeling prices:
• Up 6 percent from previous quarter; Up 11 percent from previous year
• 31 percent anticipate an increase; 2 percent anticipate a decrease
NKBA: Q1 Figures Reflect Second Highest Mark in Two Years
June 14, 2012