NKBA Study Finds Homeowners Spent More on K+B Products in 2016

U.S. homeowners spent $147.3 billion on kitchen and bath products (excluding labor and design services) in both new construction and remodeling/replacement projects in 2016, according to the Kitchen & Bath Market Outlook study from the National Kitchen+Bath Association (NKBA). Specifically, $92.9 billion of the $147.3 billion comes from remodeling and replacement projects. The NKBA breaks down its findings even further: $38.4 billion was spent on major/complete kitchen remodels and $34.3 billion was spent on major/complete bathroom remodels.

Kitchens
The U.S. residential kitchens market, including both new construction and remodeling projects, spent $74.1 billion on products in 2016, an increase from the $67.3 billion spent on kitchen products in 2015. Remodeling and replacement projects accounted for 73% of the $74.1 billion. For remodel/replacement projects, homeowners spent $54.3 billion on kitchen products in 2016. Here is the breakdown of which products homeowners spent the most money on in 2016:

The NKBA estimates that kitchen remodel/replacement projects will experience growth for the following years. It estimates that homeowners will spend $60.6 billion in 2017 and will spend $66.8 billion in 2018.

Baths
In 2016, homeowners spent $73.2 billion on bathroom products in both new construction and remodeling/replacement projects. Specifically, 53% of this amount, $38.5 billion, was spent on products for remodeling/replacement projects. This is an increase from 2015, where homeowners spent $35.5 billion on their bathroom remodel/replacement products. As with kitchens, the NKBA broke down the products spending from 2016:

For 2017 and 2018, the NKBA predicts increases. The organization estimates bathroom remodeling and spending market will reach $42.5 billion in 2017, while 2018 could reach $46.3 billion.