Green Homes Market Grows to $36 Billion and Predicted to Double.
February 13th, 2014
McGraw Hill Construction (MHC), a part of McGraw Hill Financial, just released findings from a new Green Home Builders and Remodelers Study at the National Association of Home Builders (NAHB) International Builders’ Show in Las Vegas.
Green homes comprised 23 percent of the overall residential construction market in 2013 which is equal to $36 Billion market opportunity. MHC estimates that the green market share will grow to between 26 percent and 33 percent of the market by 2016 which is double of today’s market from $36 Billion to $83-$105 billion in 2016, based on the current McGraw Hill Construction forecast for total residential construction.
68% of builders and 84% of remodelers report that home owners are willing to pay more for green construction with an average of 3% for new green homes and 5% for green remodeling projects.
Builder’s involvement in Green Building Activity has almost doubled from 2011 to 2013 with:-
- 16% of builders building more than 90% green projects in 2013.
- 66% of builders involved in green projects in 2013.
To read more click on the:
WSJ article “Green Home Building Continues to Climb”.
This article has been written by David Popoff.
David Popoff | Broker
Direct Line: 203-228-0646
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