Dive Brief:
- Currently, 19% of single-family home builders and remodelers focus on green building techniques and materials, but that number is expected to double in the next four years, according to a survey of National Association of Home Builders members conducted by McGraw Hill Construction.
- The survey also found that 62% of single-family builders and 54% of multifamily builders have at least 15% of their business coming from green construction. Those figures are predicted to hit 89% and 74%, respectively, by 2018.
- Appraisers and lenders are beginning to recognize sustainable construction as a value-add, Harvey Bernstein, McGraw Hill Construction's VP for industry insights and alliances, said.
Dive Insight:
Using what builders reported and current projections for where the housing industry and market will be in coming years, the report concluded that "the green single family housing market alone will represent approximately 26% to 33% of the market, translating to an $80 billion to $101 billion opportunity." The report is based on evidence that housing will account for 45% of construction starts this year.