Green Homes Market Could Increase Five-Fold by 2016
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 recently released study from McGraw-Hill Construction.
The “Green Home Builders and Remodelers Study” was released at the recent National Association of Home Builders International Builders’ Show in Orlando. According to the research, 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.