Green Home Market Growing
Green home construction is picking up across the country, with the value of environmental friendly homes on the rise, a new industry report shows.
According to McGraw-Hill Construction's 2009 green outlook report, the value of green construction starts in the country has increased substantially since 2005.
In the past three years, green home construction has gone from a $10 billion niche industry to as much as $49 billion, according to the report. By 2013, the values of green building projects is expected to reach $140 billion.
The report attributes the industry's rapid growth to increased public awareness, more government regulations for environmentally-friendly building approaches, and a wider recognition of bottom-line advantages for homeowners and builders alike.
"The business opportunities afforded by green building, even in the midst of a global economic crisis, are real and recognized by industry players," Harvey Bernstein, vice president of industrial analytics at McGraw-Hill Construction, said in a statement.
The report is based on aggregated data from industry surveys, data analysis and other indicators.