The surge in new home starts combined with record low mortgage rates and an uptick in employment, especially in small businesses, are helping to build momentum in the kitchen and bath business.
In July, 33% year-over-year increase in new home starts was the largest jump for that indicator in five years. Just three months earlier, that same metric had been down 30% compared to the previous year. It was just one of many housing-related turnarounds highlighted in the September revision of the 2020 Kitchen & Bath Market Outlook — and it likely bodes well for the future of our industry.
Read more on this report on NKBA’s Insights page here.
