Consumers Have Unreasonable Remodeling Budgets
Rising costs for construction materials and labor are making home improvement projects more expensive, yet too many homeowners are setting unrealistic budgets, according to the 2019 Kitchen and Bath Market Index report, which reflects second-quarter figures. The report, conducted jointly by the National Kitchen & Bath Association and John Burns Real Estate Consulting, is based on responses from 457 NKBA members.
The availability of skilled professionals, cost of materials, and trade issues top the list of overall challenges among contractors, according to the NKBA/John Burns report. A lack of skilled workers is the top concern among building and construction firms, while designers point to a slowing luxury market and shift to lower price points as the biggest barriers to growth.
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