2022 Is Looking Strong For Bathroom Remodels

Written by Sarah Fields, CEO

The recently published 2022 Kitchen & Bath Market Outlook outlined some promising stats and helpful insights for all industries across the construction and remodeling sectors. Somewhat surprising was the fact that even with widespread labor shortages and supply chain issues, there appear to be no signs of the surge in home improvements slowing down. The study also looked into consumer spending patterns and shifts in the housing market that will have an effect on the kitchen and bath industry. Overall, increased activity in mid-and high-end remodels, boosted by strong home price appreciation and growth in the number of homes prime for remodeling all adds up to good news for decorative plumbing showrooms.

We’ve shared a few of the key highlights and projections from the article here:

$199 billion in kitchen and bath industry revenues is expected by the end of 2022. That’s a 19% increase over 2021 spending
Of the $199.3 billion in total kitchen and bath spending projected, $103.9 of it is expected to be bathrooms
Professional spending on remodels is outpacing DIY spending about 2 to 1.
The nearly 2 million homes built during the mid-2000s are now becoming outdated, leading to a likely surge in remodels
A 16% increase in single-family homes reaching their prime remodel years is anticipated for the years 2020-2026
Mid-cost remodels are expected to move ahead of high-end projects in overall growth
Just over $170 billion in professional spending is projected, due to new construction and mid-/high-cost remodels
Labor will continue to be difficult to find, with declining growth of population in the 20-64 age group
Overall, the kitchen and bath industry face more complex supply chain issues than other industries, which will continue to mean more product delays

This information appeared in the 2022 Kitchen & Bath Market Outlook, published in January 2022 by the National Kitchen & Bath Association (NKBA). To read the full report and obtain access to other industry insights, sign up for a membership with NKBA.