Good News for Green

A new study presented at the International Builder’s Show predicts dramatic growth in green building and remodeling, accompanied by declining costs and greater consumer interest.

According to an article at BuilderOnline.com, the study predicts green homes to comprise between 29% and 38% of the overall residential construction market by 2016 - up from 17% in 2011. 

The report by McGraw-Hill Construction says that construction industry professionals report an even steeper increase in green home remodeling; 34% of remodelers expect to be doing mostly green work by 2016, a 150% increase over 2011 activity levels.  Builders also report a decline in the additional costs of constructing a green home – now 7%, compared with 10% in 2008 and 11% in 2006.

Many builders of new homes have shifted to the remodeling market due to the drastic drop in new-home construction, the study states. Sixty-two percent of the builders who do both new and remodeling work say the economy has increased their renovation work.

The study also reports that green homes provide a competitive marketing edge.  Forty-six percent of builders and remodelers find that building high-performance houses makes it easier to market themselves in a down economy, and 71% of firms dedicated to green home building report the same.

Do you build or rehab green?  Do you find costs to be declining?  And do the green components make a difference to buyers?