May 7, 2012
More consumers flocking to green homes
The number of green homes being built nationwide is rising, as is the number of remodels with similar aims, largely as a result of increasing consumer demand for new and affordable technologies that reduce their costs.
New, green homes built last year accounted for 17 percent of the construction market, a value of about $17 billion nationwide, and that number is expected to increase to between 29 and 38 percent of the market by 2016, worth anywhere from $87 billion to $114 billion, according to a new survey from McGraw-Hill Construction. Factors driving this increase included higher quality products for both builds and remodels and declining costs for the necessary materials.
"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," said Harvey Bernstein, vice president of industry insights and alliances at McGraw-Hill Construction.
Consumers may like green homes because they reduce costs for electricity and heat considerably, and many homeowners are growing increasingly conscious of their impact on the environment as well.