May 26, 2018

More Housing Projects Go Green

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More Housing Projects Go Green

Despite the costs of building green, builders and remodelers are reporting they’re tackling more environmentally friendly house projects.

Read more: 5 Surprising Facts About Green Real Estate

More than half – 54 percent – of 232 home builders recently surveyed nationwide say they are currently constructing at least 16 percent of their new homes green, according to a new study conducted by Dodge Data & Analytics in partnership with the National Association of Home Builders and Ply Gem Industries. Nearly 40 percent of remodelers say that at least 16 percent of their remodeling projects are green.

By 2020, 51 percent of builders say they’ll be building at least 60 percent of their new homes green.

The increase in costs associated with building green is the top obstacle builders reported. Seventy-seven percent of home builders and remodelers say that building green has an incremental cost over traditional construction of 5 percent or more.

“Builders and remodelers have long recognized that green is the future of home building,” says Tom Woods, NAHB’s chairman. “Since we first began partnering on this study with Dodge Data & Analytics in 2006, we’ve seen that commitment grow. The study’s recent findings reinforce this continued growth, with new home owner feedback showing a desire and expectation that new homes be high-performing, particularly when it comes to energy conservation. Most builders recognize that they need to be at least conversant in green to stay competitive.”

Many home owners and buyers are associating green homes as healthier. As such, 83 percent of home builders and remodelers say they believe consumers will pay more for homes that are healthier.

“We have seen the commercial sector of the construction industry focus on the impact of buildings on the health of their occupants in the last few years, but these findings suggest that attention to healthier homes may offer an even higher gain for green in the residential market,” says Steve Jones, director of industry insights at Dodge Data & Analytics. “Especially as consumers become better informed about the features that make homes more sustainable and healthier, and begin to demand them.”

View the full study.

Source: “Green and Healthier Homes: Engaging Consumers of All Ages in Sustainable Living,” Dodge Data & Analytics and “New Study Suggests Strong Outlook for Green Homes,” RISMedia (Nov. 21, 2015)