|$20 Billion Market for Green Homes|
By Jeff Stephens
October 26, 2007
According to the recently released Green Homeowner SmartMarket™ Report
produced by McGraw-Hill Construction, the market for ‘true green homes’ is
expected to rise from $2 billion to $20 billion over the next five years.
According to the study, a ‘true green home’ is defined as homes that
contain elements in 3 of 5 environmental building categories including:
Energy Efficiency, Indoor Air Quality, Water Efficiency, Resource
Efficiency, and Site Management. Keep in mind that the study was
cosponsored by the National Association of Home Builders and the
definitions were pulled from the NAHB’s Model Green Building Guidelines.
Some would say that the
NAHB’s guidelines aren’t tough enough and point to the USGBC’s LEED for
Homes program as a tougher standard.
Regardless of your program preference, the 36-page report points to a
growing awareness by the consumer of needs for green home products and
practices. Results more clearly define the green home market opportunity
and the profile of those buyers of green homes and home building products.
While the housing market in general may be suffering, it’s reassuring to
know that Green homeowners are happy with their homes and are recommending
them at higher rates than other categories. Lastly, standard homes are
becoming increasingly green, with homeowners using green products for 40%
of their remodeling work. It looks like were making progress, one tract
home at a time.