USA – The NKBA (National Kitchen and Bath Association) has completely revamped its annual Market Outlook originally released in February.

Working again with John Burns Real Estate Consulting, the report’s intent is to provide a thorough assessment of the U.S. residential kitchen and bath industry, including a gauge of current market size and a forecast for the entire year. The update reflects the impact of the pandemic across the industry, with two-thirds of its pages new or revised. Included are two sections devoted exclusively to COVID-19. Estimates for 2020 are based on housing industry factors and consumer preference behaviors, both of which have undergone changes since the February report.

The revised report places the value of the residential Kitchen and Bath industry at USD130.8 billion, and also includes a consumer study illuminating the latest attitudes toward remodeling.

“Our initial 2020 Kitchen & Bath Market Outlook was conducted in late 2019, before the pandemic hit our members and homeowners in the U.S. & Canada,” said Bill Darcy, NKBA CEO. “Kitchen and bath spending had been increasing steadily prior to the pandemic at 9 percent in 2018 and 4 percent in 2019. As such, the original report projected a strong 2020, bolstered by an especially bright first quarter. While the Covid-19 crisis, unsurprisingly, led to a double-digit decline in spending across all major categories, we are already seeing signs of positive growth as shelter-in-place orders are lifted, and we’re optimistic about the industry’s long-term health.”