Strong Housing, Economy Expected to Fuel K&B

NKBA’s 2021 Kitchen & Bath Market Outlook projects low home supply coupled with high demand will likely result in significant house-price appreciation.

By Robert Isler

Large-scale K&B renovations are set to take off in 2021, based on a series of positive drivers detailed in NKBA’s Kitchen & Bath Market Outlook. First, existing home inventory stands at 1.53 million, down 20% year-over-year, and more than a third below the historic average of 2.37 million. Mortgage rates have been hovering near all-time lows, leading to increased demand and more consumers — 71% of households, or 83 million consumers — able to afford a $200,000 mortgage. The combination of low supply and high demand, however, creates ideal conditions for home price appreciation.

For more on this story, click here.