On the House: ‘Green’ Gains Ground But Might Have Limits

Two new studies suggest that the emotional desire to “go green” may translate into more purchases of homes with green features. The results of both reports were released earlier this month at the International Builders’ Show sponsored by the National Association of Home Builders. McGraw Hill Construction presented its finding that green homes accounted for 23 percent of all residences sold in 2013 and are expected to make up 33 percent of the sales market by 2016. The research additionally showed that 68 percent of builders — up from 61 percent just two years earlier — said customers will pay more for green features. The second study, conducted by Atlanta-based GuildQuality, determined that 94 percent of green-home owners would recommend such a property to a friend or family member. GuildQuality COO Mark Miles stated, “That’s extraordinarily high. We work with 1,300 of North America’s largest builders and have conversations with 20,000 homeowners a month. Among our members, the average recommendation rate is about 90 percent, but across the industry as a whole, the rate is much lower.” The survey further showed that 55 percent of respondents said they believe the benefits of owning a green home outweigh the extra cost. | Read More