Real Estate Outlook: Green Construction Predicted to Grow

Green homes will account for between 29 percent and 38 percent of the market by 2016, up from 17 percent last year, according to the McGraw-Hill Construction SmartMarket Report. “When builders are able to offer homes that not only are green, but also offer the combination of higher quality and better value, they have a major competitive edge over those building traditional homes,” says Harvey Bernstein, McGraw-Hill’s vice president of industry insights and alliances. According to the report, consumers are drawn to green homes because they want to reduce energy costs and believe such homes offer long-term savings and are of higher quality. The report says the higher costs of green construction are no longer an issue, as prices now align with traditional construction due to a healthy supply of green products. | Read More