A new report from McGraw Hill Construction shows that the market for green homes in the United States is continuing to grow at a considerably fast clip. An increasing number of first time home buyers and veterans are looking for more energy efficient homes using Earth-friendly materials that save them on utility costs and help protect the planet.
And it’s not just the homeowners who are getting involved. By 2018, 84% of home building firms in the United States are expected to be doing at least 15% of their jobs using completely green methods and materials. Consumer demand for these services is expected to grow by 33% by 2016, eclipsing revenue of $101 billion for construction businesses. As always, money talks.
Celebrities, Moguls Drive Increased Demand for Green Luxury Homes
The biggest driver of the market for green homes is those Americans looking for luxury homes with an eco-friendly twist. Overall, according to a recent report from Redfin, luxury home sales have increased by 21.1% since January 1. With an increase in attention to building energy efficient homes, whether through the use of solar panels or special insulation, green-minded celebrities and moguls alike are driving a boom in an already healthy luxury market. In a recent spot in Haute Living, solar panels were listed as one of the most desirable amenities for a mansion. As celebrities like Lisa Ling, Jessica Alba, and Tom Brady continue to snatch green luxury homes with these amenities from the market, it’s clear that eco-friendly living is now en vogue.