Interior Design by Vanessa Deleon. 

NKBA just released its 2024 Kitchen & Bath Market Outlook, and it looks like it’s positive news all around. The K&B sector appears to be holding steady with anticipation for soon-to-come renovations—homeowners are said to be waiting for some expected rate and price decreases to start their projects. 

While new construction is expected to decline by 2%, the increase in single-family home construction will counteract the effects. In addition, some lower level remodeling is projected to take place as well. Inquiries into K&B projects and leads for high-end projects have also been shown to increase in comparison to other quarters—a fact that bodes well for the industry in the coming months.

According to Bill Darcy, NKBA | KBIS Global President and CEO, it’s really just a waiting game. “This Market Outlook Update reflects the impact of an economy that continues to temper consumer behavior,” he says. “However, with the promise of reduced interest rates on the horizon – perhaps within weeks – there is a strong basis for optimism that more homeowners will finally begin to commit to the K&B projects they have been eagerly waiting to pursue.”

As the market readies itself for another great year, we’re holding steady with fantastic lead times—think weeks instead of months or years. And with our new custom color matching capabilities—which includes matte and metallic automotive grade paint—we’re set to provide designers and homeowners with the highest caliber appliances available and the utmost in design flexibility.