While inflation remains stubborn and continues to soften demand from low and middle-income consumers, a variety of positive factors are moving the resilient U.S. kitchen and bath market in a positive direction, according to the Q1 2024 NKBA/John Burns Kitchen & Bath Market Index (KBMI) report. These factors include high levels of wealth (particularly among boomers), growing volume of aging-in-place renovations and a strong labor market. Many NKBA members report that they are planning for increased sales in 2024, typically in the mid-single digits, though projections are tempered by expectations that interest rates will remain high for longer than anticipated.

In Q1 2024, the KBMI Index rated 56 out of 100 (up from 54 in Q4 2023), an increase of two points quarter-over-quarter. This is the highest KBMI rating over the past year, indicating that the industry is beginning to expand, albeit at a measured pace. Conducted jointly by the National Kitchen & Bath Association and John Burns Research and Consulting, the KBMI report includes data and insights from 508 NKBA members across four segments: design, building and construction, retail, and manufacturing.

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Source:  NKBA | KBIS Editorial Staff   – NKBA.org