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Green home building going mainstream Green home building going mainstream
WASHINGTON -- June 8, 2006 -- According to a survey by McGraw-Hill Construction and the National Association of Home Builders (NAHB), green home building -- which uses environmentally sensitive construction techniques to reduce energy and water consumption -- is rapidly becoming mainstream.
In 2005, there was a 20 percent increase in the number of home builders producing green, environmentally responsible homes; and the study -- Residential Green Building SmartMarket Report -- indicates that the number will grow by another 30 percent this year.
The value of the residential green building marketplace is expected to boost its market share from $7.4 billion (2 percent) of housing starts in 2005 to somewhere between $19 billion and $38 billion (5-10 percent) of residential construction activity by 2010.
“Green home building is not a fad, but a trend, and one that is increasing at rapid rates,” says Harvey Bernstein, vice president of Industry Analytics and Alliances for McGraw-Hill Construction. “The data we recently collected indicates builders will reach the tipping point by early next year, where more builders will be producing green homes compared to those not.”
This finding is a powerful one, Bernstein adds. “With more builders creating green homes, and more consumers buying them, the rest of the industry will follow and increasingly begin to incorporate green features or practices into their homes and home building products.”
The cost of building a green home stops 82 percent of buyers from opting for it, according to the survey; while 79 percent say a "lack of interest" holds them back. Only 39 percent said that the perception of green building as a fad and not something here to stay was a significant roadblock.
© 2006 FLORIDA ASSOCIATION OF REALTORS®
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