Green homes comprised 23 percent of the overall residential construction market in 2013, according to McGraw Hill Construction, a part of McGraw Hill Financial. A new Green Home Builders and Remodelers Study, released Tuesday at the National Association of Home Builders International Builders' Show in Las Vegas, suggests that green home building is expected to grow to between 26 percent and 33 percent of the market by 2016. This equates to a doubling in the value of green home construction over three years-from $36 billion in 2013 to up to $105 billion in 2016.
Green homes comprised 23 percent of the overall residential construction market in 2013, according to McGraw Hill Construction, a part of McGraw Hill Financial. A new Green Home Builders and Remodelers Study, released Tuesday at the National Association of Home Builders International Builders' Show in Las Vegas, suggests that green home building is expected to grow to between 26 percent and 33 percent of the market by 2016. This equates to a doubling in the value of green home construction over three years-from $36 billion in 2013 to up to $105 billion in 2016.
According to McGraw Hill Construction research dating back to 2006, the green home building market most rapidly accelerated during the housing downturn, when builders experienced in green remained in business at higher proportions than those not knowledgeable about energy-efficient and green home building. "Green experience was a significant part of what kept builders in business during the recession," Harvey Bernstein, Vice President of Industry Insights and Alliances for McGraw Hill Construction, said in a statement. "Now, those same firms are embracing the competitive advantage they earned by deepening their delivery of energy-efficient and green homes. We also see firms reentering the market that are using traditional home building practices versus green practices, because that's what they know. However, the broader availability of green building products and practices, a more educated consumer and an increase in activity at the regulatory level will also encourage this group of builders to learn green practices over time."
