Bill Darcy, NKBA CEO, appeared on Cheddar News to discuss the latest K+B Index. By Loren Kessell
Home renovations are on the rise, even though the market faces several challenges. Bill Darcy, NKBA CEO, appeared Friday on the Cheddar News segment, “Your Future Home,” to discuss this finding and more from the 2021 Q2 National Kitchen & Bath Association/John Burns Kitchen & Bath Market Index (KBMI).
“Because we’re a room-based organization, we can get the feedback from the manufacturer, the retailer, the designer and the building and construction professional, so we see a diverse perspective of where the market is,” Darcy said. “It’s hot right now, and our KBMI, at 82.3, is the highest it’s ever been.” (The KBMI scale measures the industry’s economic health and a score above 50 indicates expansion.)
The kitchen and bath industry generates nearly $170 billion in sales, labor and design services annually, and experienced 10% growth from Q1 to Q2. Though currently labor and materials shortages and supply-chain disruptions are hampering some projects, homeowners are still looking to improve their spaces by prioritizing luxury and comfort.
Darcy suggested a few things homeowners can do to combat these challenges:
- Plan ahead and allow for plenty of lead time.
- Conduct all of your research in advance, and factor in budget considerations.
- Think of these rooms as zones and renovate based on the logistics of the home.
Watch the full segment here.
