Green Homes Are a Growth Industry

Green single-family housing will represent 26 to 33 percent of the housing market by 2016 and will be worth a projected $80 billion to $101 billion, according to a new McGraw Hill Construction SmartMarket Report. The report says nearly 20 percent of current single-family homebuilders build green homes more than 90 percent of the time, and that is expected to increase to 38 percent of single-family homebuilders by 2018. Of the firms building single-family homes, 62 percent say at least 15 percent of their projects are green homes, and that is expected to increase to 84 percent by 2018. Of the firms building multifamily projects, 54 percent say at least 15 percent of their projects are green, and that is projected to increase to 79 percent in 2018. Factors driving the green housing market include consumer expectations, the higher prices green homes command, lenders and appraisers’ recognition of the value of green homes, and builders and remodelers’ recognition of the value of green homes. | Read More