McGraw-Hill Construction, a part of The McGraw-Hill Companies, recently released findings from a new Green Home Builders and Remodelers Study at the National Association of Home Builders (NAHB) International Builders’ Show in Orlando.
Green homes comprised 17% of the overall residential construction market in 2011 and are expected to grow to between 29% and 38% of the market by 2016. By value, this equates to a five-fold increase, growing from $17 billion in 2011 to $87–$114 billion in 2016, based on the five-year forecast for overall residential construction.
According to the study, 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. Many home builders have shifted to the remodeling market due to the drastic drop in new home construction. In fact, 62% of the builders who do both new and remodeling work verified that the economy has increased their renovation work.
Further findings, including remodeling details, green technologies, and green product adoption in green homes, will be included in that report. For more details in the meantime, click on the attachment.