McGraw-Hill Construction released findings from a new Green Home Builders and Remodelers Study at the International Builders’ Show. Green homes comprised 17% of the overall residential construction market in 2011 and are expected to grow to between 29% and 38% of the market by 2016. By value, this equates to a five-fold increase, growing from $17 billion in 2011 to $87-$114 billion in 2016, based on the five-year forecast for overall residential construction. “The housing market is critical to the U.S. economy,” said Harvey M. Bernstein, VP of Industry Insights and Alliances, McGraw-Hill Construction, “and the results of our study show that despite the drastic downturn in housing starts since 2008, green has grown significantly as a share of activity – indicating that the green market is becoming an important part of our overall economic landscape.” Many factors are driving the green homes market, with “higher quality” and “increases in energy costs” topping the list, indicating that today’s green homebuyer is not just a green consumer. Buyers recognize that green homes have lower bills due to higher building performance. [Read this article]
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