Tuesday, April 8, 2008

10 Things You Should Know About the Kitchen & Bath Industry

1. Americans spent more than $220 billion on kitchens and bathrooms in new construction and remodeling last year.
2. Six out of every seven new kitchens last year were remodeled, while only one in seven were new construction.
3. Almost three quarters of new bathrooms last year were remodeled, while just a little more than a quarter of them were new construction.
4. Despite the downturn in the housing market, the number of kitchen and bath remodeling projects actually increased in 2007 over 2006 levels.
5. Dipping home values and prices act as a spur to kitchen and bath remodeling; consumers trying to sell often decide to improve their homes in the hope of attracting buyers, while consumers staying put improve their homes for an enhanced lifestyle and increased home value.
6. A National Kitchen & Bath Association survey last month found about 84% of kitchen/bath dealers are planning to expand their business or carry on as usual; just 16% are pulling back.
7. With at least 36 states facing water shortages by 2015, the need for conservation will be a new driver for remodeling bathrooms, which account for more than half of all household water use each day.
8. For every 20 bathroom projects undertaken last year, nine were master baths; eight were other full baths and three were powder rooms.
9. The NKBA, owner of K/BIS®, has been representing the industry for 45 years and includes more than 40,000 members in the US and Canada.
10. K/BIS is expected to have more than 44,000 attendees from around the world, viewing more than 900 exhibits.

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