REALTOR® Magazine-Daily News-Survey: More Home Owners Go Green

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Daily Real Estate News | October 23, 2007 | Survey: More Home Owners Go Green
Green home building products are gaining ground, according to a report produced jointly by McGraw-Hill Construction and the National Association of Home Builders.

The major findings of the report conclude:

The market for green homes is expected to rise from $2 billion to up to $20 billion over the next five years.

Standard homes are becoming increasingly green, with home owners using green products for 40 percent of their remodeling work.

Most Americans find out about green homes through word-of-mouth, followed by television and the Internet.

Green home owners are happy with their homes and are recommending them at rates significantly higher than recommendation levels of other industries.

Home owners 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.

Education and awareness of green ranks as the most important obstacles, slightly higher even than the additional first costs associated with building green.

“The industry needs to listen to what the consumer is starting to want in their homes," says Harvey M. Bernstein, vice president of industry analytics, alliances and strategic initiatives for McGraw-Hill Construction. "As we look at changes within the slow residential market, green is a phenomenal opportunity area."

Source: McGraw-Hill Construction (10/22/07)