Green Homebuilding Expected to Continue to Rise

Green homes will comprise to 29%-38% of the green building market at an estimated value of $87-$114 billion, according to McGraw-Hill's 5 year calculation, published in a SmartMarket report titled, "New and Remodeled Green Homes: Transforming the Residential Market."

Released May 1 at the National Association of Home Builders Green Building Conference and Expo, the report finds that perceptions of quality and expectations of savings are driving consumer demand. First Cost concerns are decreasing, as consumers recognize the potential of operational savings. To access a free copy of the report, visit: http://analyticsstore.construction.com/index.php/new-and-remodeled-green-homes-transforming-the-residential-marketplace-2012.html

Regulations, financial incentives, and increased consumer awareness have all contributed to make green homes the fastest growing segment of the green construction market. Despite a sluggish housing market, interest in green homes continues to grow. According to McGraw-Hill, by 2016 one third of builders and 22% of remodelers expect that over 90% of their projects will be green. Construction professionals are finding that green building gives them a marketing advantage and that homeowners are willing to pay a premium for green products and services.