2020 NKBA Kitchen & Bath Outlook Executive Summary
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The National Kitchen & Bath Association’s 2020 Kitchen and Bath Market Outlook Report provides a thorough and objective assessment of the U.S. residential kitchen and bath industry, including an estimate of current market size and a forecast for 2020. Growth estimates for 2020 are based on both housing industry factors and consumer preferences/ behaviors.
This research report provides market size estimates and forecasts for kitchen spending and bathroom spending, as well as estimates for new construction spending and remodeling spending. New construction spending estimates include both single family and multi-family units. Remodeling spending estimates include improvements to both owner-occupied and rental properties. All dollar figures cited in this report include both products and labor (installed costs).
The data presented in this report is compiled from a variety of sources – U.S. Census American Housing Microdata, National Apartment Association (NAA) Spending, National Association of Realtors, Moody’s Analytics, Home Innovation Research Labs (HIRL) data, and home improvement estimates and forecasts from John Burns Real Estate Consulting.
In addition, a survey was conducted among 2,500 consumers to determine the amount homeowners typically spend on kitchen and bath remodels, to identify the top upgrades consumers are making in their kitchens, master bathrooms and guest bathrooms, and to analyze and forecast the impact of outdated home design on kitchen and bath remodeling behavior. This consumer data also provides insight on project motivations/obstacles, spending levels, and preferred financing methods.
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