Housing, Economic Factors Bode Well for K&B

Over a dozen large markets have had YOY price appreciation of 15%+, led by Austin’s 28%.

By Robert Isler
Housing and economic conditions both remain ripe for strong near-term growth in K&B remodeling, according to the recently released July update of NKBA’s 2021 Kitchen & Bath Market Outlook.

Sales of new homes spiked in April, with year-over-year growth of 91%. Since sales normally precede housing starts by one or two months, new kitchen and bath construction is forecast to be robust. In fact, according to John Burns Real Estate Consulting (JBREC), which conducted the field work, new K&B construction is projected to reach a record $100 billion for the year. Builders surveyed expect full-year housing starts to exceed last year by 18%, as COVID-related backlogs continue to make for a red-hot market.

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