Supply chain issues and material shortages temper industry’s outlook despite continued strong market.
The National Kitchen & Bath Association (NKBA) and John Burns Real Estate Consulting (JBREC) released its most recent Kitchen & Bath Market Index (KBMI) which is aimed at measuring the health of the kitchen and bath industry. The KBMI for Q3 shows that despite a continued strong market, ongoing industry challenges are having a cooling effect on what has been a very positive full-year outlook.
While the overall kitchen and bath industry continues to show healthy growth for the year, the overall index is down 4% quarter over quarter as lingering issues caused by the pandemic seem to be catching up to consumer sentiment. Despite this, the industry is coming off of a record-breaking quarter of growth in Q2, which has fueled projections for the year at around 12% growth in sales year-over-year, with many members still encouraged about future growth in 2022.