Ownership Of “Green” Homes Expected to Increase
The market for true green homes is expected to rise from $2 billion to up to $20 billion over the next five years, according to The Green Homeowner SmartMarket™ Report from McGraw-Hill Construction. The report is produced in conjunction with the National Association of Home Builders.
In addition, the report says standard homes are becoming increasingly green, with homeowners using green products for 40 percent of their remodeling work, and that most Americans find out about green homes through word-of-mouth, followed by television and the Internet. In addition the report notes that most green homeowners are happy with their homes and are recommending them at rates significantly higher than recommendation levels of other industries and homeowners are buying green homes because they are concerned about the health of their families, as well as to reduce energy and other home operating costs. Finally, McGraw-Hill notes that education and awareness of “green” rank as the most important obstacles, slightly higher even than the additional first costs associated with building green.
“Our findings are particularly powerful because they point to the reasons behind the market trends we’re seeing of the increasing number of green homes,” says Harvey M. Bernstein, vice president of industry analytics, alliances and strategic initiatives for McGraw-Hill Construction. “People are spreading the word about their green homes, which is most effective because that’s how buyers are hearing about the opportunities of green. It’s a cycle that is bearing out in the marketplace.”
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