Preliminary results of a McGraw-Hill Construction/National Association of Home Builders (NAHB) survey have indicated that there has been a 20 percent increase in 2005 among those in the home building community who are focusing their attention on green, environmentally responsible building.
That number is expected to increase by another 30 percent in 2006, according to a press release from McGraw-Hill Construction.
The research findings will be issued May 15 in the Residential Green Building edition of McGraw-Hill Construction’s series of SmartMarket Reports.
After several years of slow but steady growth across the country, the green home building movement, which applies construction techniques and products designed to reduce energy and water consumption and improve residential comfort and safety, is rapidly moving to the mainstream. By 2010, residential green building is expected to grow to $19 to $38 billion.
“Green home building is at a tipping point among the builder population,” says Harvey Bernstein, vice president of Industry Analytics and Alliances for McGraw-Hill Construction. “The data we recently collected indicates 2006 to 2007 is the time frame from which the builder population moves from a majority less involved to a majority more involved with green building.”
To serve this growing market segment, McGraw-Hill has launched a green building Web site at www.GreenSource.construction.com.
Citing statistics from the recent research study, Bernstein states that green building will boost its market share from $7.4 billion and 2 percent of housing starts last year to $19 to $38 billion and 5 to 10 percent of residential construction activity by 2010. “Within 10 years, every builder will be incorporating green practices into what they do,” he says.
McGraw-Hill Construction, part of the McGraw-Hill Companies, provides products and product information, trends and forecasts to the construction industry. More information is available at www.construction.com.