The following facts and figures are from the 2004 Kitchen & Bath Business Market Forecast and the latest forecasts from the NAHB. For more information or to order the full 2004 KBB Market Forecast Report, visit www.kitchen-bath.com/mf or call 646.654.4045.
- Over the past five years, kitchen remodeling jobs are up 48.9% and kitchen remodeling spending has jumped 50.1%.
- High-end kitchen jobs (more than $15,000) will be up 21.8% in 2004, to 176,570 units.
- The number of high-end kitchen jobs has nearly doubled over the past five years and has increased by 139.8% over the past decade.
- Kitchen remodeling is expected to increase by 9.8% in 2004, to a total of $10.57 billion.
- High-end kitchen remodeling (more than $15,000) will drop slightly to 118,796 jobs, but spending on those jobs will increase to $4.09 billion.
- In the past decade, kitchen and bath remodeling jobs have increased by 24.7%, and the amount spent on these jobs has doubled.
- High-end remodeling jobs will dip 2.4% to 126,593 units, but spending will increase 11% in 2004, to $4.54 billion.
South Atlantic Region
- Kitchen and bath remodeling jobs will increase 1.8% in 2004, to 743,546 units, and spending will increase to $7.49 billion.
- Remodeling jobs have increased 16.3% since 1995, but spending has almost doubled.
- Kitchen remodeling jobs will be up 1.6% to 964,740 units with spending increasing 11.2% over 2003 levels to $10.3 billion.
- High-end jobs will rise 3.8% to 121,718 units, with $4.59 billion spent.