A McGraw-Hill Construction/National Association of Home Builders survey finds that 2006 will see the number of builders delivering green, environmentally
A McGraw-Hill Construction/National Association of Home Builders survey finds that 2006 will see the number of builders delivering green, environmentally responsible homes climb 30 percent on top of last year’s 20 percent growth surge. Survey results and additional information on the rapid-growth green-home market are part of the new Residential Green Building SmartMarket Report.
Green home building applies innovative and environmentally sensitive techniques and products to reduce energy and water consumption and improve comfort and safety. After several years of slow but steady growth, the report contends, such methods are rapidly moving into the mainstream. The residential green-building marketplace is expected to climb from $7.4 billion, or 2 percent of housing starts last year, to $19 billion-$38 billion, or 5-10 percent of residential activity, by 2010. The leading reason builders are considering green is that it’s the right thing to do, the survey concludes, with 92 percent of respondents identifying that factor as very important or somewhat important. Other prominent influences include reducing life-cycle costs through energy efficiency, a goal 87 percent of respondents acknowledge.
Green home building is not a fad, but a trend, and one that is increasing at rapid rates, says McGraw-Hill Construction V.P. of Industry Analytics and Alliances Harvey Bernstein. Data indicates builders will reach the tipping point by early next year, where more will be producing green homes compared to those not. With more builders creating green homes, and more consumers buying them, the rest of the industry will follow and increasingly begin to incorporate green features or practices into [projects] and products.