We Forecast ~31% Total House Price Appreciation Between 2020-2023; Driven by Supply Shortages and Underlying Demand Burns Projected Home Price Appreciation 10% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0% 8.9% 8.1% 6.0% 2020P 2021P 2022P 4.9% 2023P Spending in Mid-Price and High-Price Point Tiers to Post Highest Rates of Growth Residential Kitchen and Bath Spending ($ Billions) 2021 Growth $158.6 $ $$$ MID-SPEND PRICE POINT HIGH-SPEND PRICE POINT $40.4 $62.3 $55.9 18.5% 16.6% 19.8% 9.9% 16 14-17_KBB_0221_ResearchRoundup.indd 16 $$ LOW-SPEND PRICE POINT / FEB.-MAR. 2021 / KBBONLINE.COM / The official publication of NKBA (NKBA.org) and KBIS (KBIS.com) 1/23/21 2:41 PMhttp://www.KBBONLINE.COM http://www.NKBA.org http://www.KBIS.com