Consumers of all ages are interested in green homes, and who wouldn’t be?
Consumers’ associate green homes with healthier homes. And this leads to greater growth potential in the future, as does the increased use of renewable technologies by 2018.
- 54% of homebuilders are currently constructing at least 16% of their new homes green, and 39% of remodelers report that at least 16% of their remodeling projects are green.*
- By 2020, nearly all (81%) home builders will be constructing that level of green, with 51% building at least 60% of their new homes green.*
- By 2020, remodelers report a similar level of growth, with 74% making at least 16% of their projects green, and over 1/3 completing over 60% of their projects green.*
There is a belief that consumers will pay more for green homes, because they are healthier, and this is driving the growth.
Another factor is the increased interest in renewable energy. This market is expected to grow, and we can expect to see new builds and remodels utilize green technology (think solar energy).
One might believe that this new(er) market is driven by the millennial generations interest, however that would be false. Consumers over 55 are driving this trend. They are familiar with property features, know what they like, and are now emphasizing home performance. Which is good news, as millennials age this market is sure to boom!