The most recent National Kitchen and Bath Association (NKBA) Market Outlook Report projects 2023 bath and kitchen revenue will reach $162.4 billion, a 14% decrease when compared to the previous year. With potential recessionary pressure, high mortgage rates and a cooling residential housing market, Supply House Times chatted with a few showroom professionals from around the country to gauge what’s expected in the 2023 showroom sector.
Despite the challenges listed above, the general consensus is that showroom business is still extremely strong, and the remodel market will remain a key driver throughout 2023.