NAPCO (North American Polymer Company) Sees Window of Opportunity for Kitchen and Bath Refinishers in an Uncertain Housing Market

SKOKIE, Ill., July 16, 2019 /PRNewswire-PRWeb/ -- NAPCO, Ltd. (North American Polymer Company), a national producer of refinishing products and a bathtub and kitchen refinishing training company, sees opportunity for professional refinishers despite mixed housing reports. According to the National Association of Realtors' Index, May marks the 17th straight month of annual declines for home contract signings. Interest rates continue to be low, but inventory is also down. So, what does this mean for the remodeling industry? After home remodeling spending hit a record high of nearly $425 billion in 2017, annual gains are projected to slow in more than half of the nation's largest housing markets in 2019, according to a report from the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.

With supplies of timber, aluminum, and steel being impacted by existing tariffs, and a shortage of skilled laborers, the refinishing industry may have a unique opportunity to grab what would have been larger remodeling jobs. Homeowners don't have to wait to make improvements until they are ready to put their house on the market (which is when most remodeling activity occurs).

"Bathtub and kitchen refinishers are not being impacted to the same extent as remodelers or builders have been by tariffs on supplies such as steel, timber and aluminum. Refinishing a kitchen or bathroom reuses existing materials by repairing and applying specialty coatings to the surfaces for lasting improvement. The process is an affordable and environmentally friendly way to make dramatic improvements to bathrooms and kitchens," said Dani Nichols, President of NAPCO. "By educating homeowners about this option, suddenly home improvements are now within reach. The price tag of a bathroom remodel can drop from $8,000.00 - $12,000.00 to a mere $1,500.00," she added.

With home seller sentiment falling, inventory lagging, and a skilled labor market shortage, the current market environment could create a window of opportunity for kitchen and bath refinishers.

"If bathtub refinishers can expand their skill set to include kitchen refinishing, they can fill the existing skilled labor gap while also providing affordable home improvements to those choosing to stay in their existing home," said Steve Coven, CEO of NAPCO.

Many of NAPCO's long-time bathtub refinishing customers have signed on for the new kitchen refinishing training program. Once these refinishers learn the cabinet taping technique and the methods for applying the Kitchen Renew waterborne coatings, they have been able to deliver both bathroom and kitchen refinishing jobs successfully. The best part about expanding refinishing skills to include kitchens is the jump in job pricing. A kitchen refinishing job can be very profitable, and a great additional revenue stream for your business.

In short, market confusion often forces people and businesses to sit on their hands. NAPCO urges refinishers to take action, improve their skills, and educate homeowners on the benefits of refinishing. Enjoying your home should not be dictated by market fluctuations.

For more information on NAPCO's kitchen refinishing training program and/or its kitchen and bathroom refinishing training program, visit our website.

About NAPCO

Since 1979, NAPCO, Ltd. (North American Polymer Company) has provided products, supplies, and training to professional bathroom and kitchen refinishers. NAPCO is headquartered just outside of Chicago, in Skokie, IL and services all 50 states and 5 foreign countries. If you are interested in refinishing your tub, tile, or counter top instead of replacing, call 1-800-888-1081 or visit http://www.napcoltd.com today.

SOURCE NAPCO, Ltd. (North American Polymer Company)

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http://www.napcoltd.com