Since 2006, Dodge Data & Analytics and the National Association of Home Builders have teamed up to survey home builders about their level of green building activity. This new SmartMarket Brief, part of a series of studies, reveals the depth and breadth of the green building and sustainable development market for single family and multifamily homes. This new study, focusing on the responses of single-family builders, single family remodelers and multifamily builders and remodelers, includes:
- The level of green building market activity, both longitudinally compared with previous studies and future expected levels of green building by builders and remodelers
- The costs and benefits of green building
- The current experience of marketing green homes, including the most effective terminology to use
- The drivers encouraging more green building in the future, and the obstacles that need to be overcome to increase the level of growth of green building in the residential market
- The top green building practices and features used and valued most by single family and multifamily builders and remodelers, and the top-of-mind green product brands used now
- The rapid expansion of renewable energy and net zero homes in the residential market
The current study demonstrates that a high percentage of single and multifamily builders and remodelers are engaged in green building and even more expect that involvement to grow. It also reveals lively growth in the use of renewable technologies, which help to drive more green construction of net zero homes.
The increased maturation in the green residential market is also evident in the reduced influence of obstacles that previously hampered the market, and in the moderate influence of a range of drivers encouraging builders to build green.
All findings suggest that residential green building is a strong market with vigorous growth expected in the future.