RESTON, VA — Sales of kitchen cabinets and bathroom vanities, buffeted by high interest rates, sluggish home sales and other industry headwinds, posted its latest in a series of monthly declines in August, falling slightly below sales in the same month in 2022, the Kitchen Cabinet Manufacturers Association reported.
According to the KCMA’s latest monthly “Trend of Business Survey,” participating manufacturers reported that overall cabinet and vanity sales in August were 1.7% below the sales reported in August of 2022. The monthly decline was spurred largely by a 22% decline in sales of stock cabinets. In contrast, custom cabinet/vanity sales rose 11.4% for the month, while sales of semi-custom cabinet rose 6.3%, according to the Reston, VA-based KCMA.
Year-to-date cabinet and vanity sales through August were down 7.4% from sales posted in the first eight months of 2022, the KCMA reported.