Green homes finding a more prominent place in the construction market

Written By: Thatcher Michelsen May 8, 2012 0
The share of green homes in the construction market could grow to 29 percent to 38 percent by 2016.
The share of green homes in the construction market could grow to 29 percent to 38 percent by 2016.

The popularity of leading green lifestyles is unquestionably growing. While that's pretty easy to see with the naked eye, there's plenty of data that supports the trend.

Earlier this month, McGraw-Hill Construction released its SmartMarket Report, "New and Remodeled Green Homes: Transforming the Residential Market," at the National Association of Home Builders’ (NAHB) National Green Building Conference and Expo.

According to the NAHB, the company estimated that as much as 17 percent of the construction market was made up of green homes. If that figure is accurate, that would mean the green home building industry is worth roughly $17 billion.

The study showed that home shoppers are increasingly opting for green houses because they are not only of higher quality, they also offer the prospect of saving money. In fact, the study revealed that roughly two-thirds of respondent builders said clients have asked for green houses so that they can lower energy consumption or save on electricity bills.

"These findings confirm the shift we've seen in the market," Jim Halter, vice president of construction solutions for Waste Management, explained to the media in a recent statement. "Builders and remodelers are placing more emphasis on energy efficiency, increases in sustainability focused waste management practices and more products made from post-consumer materials. These important factors are pushing our industry forward."

Energy efficiency has been the main method with which home builders are going green, as more than 80 percent of respondents indicated that homes are more eco-friendly today than two years ago because of this.

The report added that the share of green homes in the construction market could grow to 29 percent to 38 percent by 2016, which would make it worth $87 billion to $144 billion.

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