The National Kitchen & Bath Association and John Burns Real Estate Consulting have revealed the results of the first quarter of 2019 Kitchen & Bath Market Index (KBMI), which shows healthy growth in the quarter and positive expectations for the year ahead.
NKBA and JBREC partnered on a joint research venture to develop a metric to monitor the economic health of the kitchen and bath market. The KBMI is the industry’s only barometer aimed purely at the current performance and prospects for kitchen and bath design, remodeling and sales.
The Good News Is In
The KBMI’s first-quarter report found the following:
- Strong Q1 Growth: The kitchen and bath industry composite index currently rates at a 71 out of 100. This reflects growth and optimism in three main components of the index: the current quarter, future market sales and overall health.
- Positive 2019 Outlook: The industry is more positive on future business conditions (76.1 out of 100 index reading) than on current conditions (67.5 index reading).
- 56% of Industry Expects Growth in Q2 2019: The industry generally expects second-quarter business conditions to improve. This is especially expressed by manufacturers and building/construction companies, which are the most optimistic about quarterly sales.
The quarterly KBMI reports are available free to anyone in the industry. Quarters 2, 3 and 4 are scheduled to release as follows:
Q2: Aug. 6, 2019
Q3: Oct. 31, 2019
Q4: Feb. 4, 2020