Kitchen and bath dealers in the United States saw a rise in showroom traffic and an increase in kitchen remodels in the third quarter of 2011, compared to the third quarter of 2010, according to the latest Kitchen & Bath Market Report from the National Kitchen & Bath Association (NKBA).
The number of bathroom remodels in 3Q 2011 declined from the second quarter, but are still significantly increased from bathroom sales from 3Q 2010.
“Although optimism seems to be taking a hit, the numbers today from a year ago are encouragingly higher, ranging in increase from 4 to 85% higher on various points,” stated Bill Darcy, executive vice president of the NKBA. “The volatility of the third quarter is balanced by the overall increased consumer traffic, sales volume and remodeling prices in the past year.”
NKBA Kitchen & Bath Market Index (KBMI), which measures the confidence of kitchen and bath dealers on a scale of -60 to +60, is at +9 for the third quarter, showing that kitchen and bath dealers expect only slight growth in the market through the following quarter.
Showroom visits. Showroom visits in 3Q 2011 were up 8% from 2Q 2011 and up 42% from 3Q 2010. 33% of dealers expects an increase in showroom visits in Q4 2011, while 14% anticipate a decrease.
Kitchen remodels sales volume. Kitchen remodels sales volume in 3Q 2011 was down 6% from 2Q 2011, but was up 36% from 3Q 2010. 36% of dealers expect an increase in Q4 2011; 13% expect a decline.
Kitchen remodeling prices. Kitchen remodeling prices in 3Q 2011 are up 7% from 2Q 2011 and are up 16% from 3Q 2010. 14% of dealers anticipate an increase in Q4 2011; 14% also anticipate a decline.
Bathroom remodel sales volume. Bathroom remodel sales volume in 3Q 2011 is down 9% from 2Q 2011 and up 85% from 3Q 2010. 35% of dealers expect an increase in 4Q 2011; 10% expect a decline.
Bathroom remodeling prices. Bathroom remodeling prices are up 30% from 2Q 2011 and are up 16% from 3Q 2010. 18% of dealers expect an increase in 4Q 2011 while 9% expect a decline.
Kitchen and bath revenue. Kitchen and bath revenue in 3Q 2011 was up 4% from 2Q 2011 and was up 69% from 3Q 2011. 32% of dealers expect an increase in 4Q 2011; 15% expect a decline.
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