What’s Behind the Housing Boom — and Why Isn’t It Better?

Key takeaways:

• A number of converging factors have led to a white-hot housing market, which could have been even stronger if not for material and labor shortages;
• Most mortgage origination comes from households with top credit scores, unlike the questionable loans of the subprime era;
• Household homeowner equity is at an all-time high of nearly $275,000, helping to fuel premium K&B remodels.

By Robert Isler

Findings from NKBA’s 2021 Kitchen & Bath Market Outlook October update help shed new perspective on both the extent and sources of the white-hot market — and why it isn’t even stronger.

In this particular perfect storm, pent-up demand following the onset of COVID-19, a steep rise in savings combined with record home-price appreciation, and geographic migration due to both the fear of large, crowded metros and the dawn of a new era in working from home, has builders scrambling to keep pace. Shortages in both materials and labor are not helping. This exclusive new research details these factors and dives deeper. To read more, visit NKBA Insights here.