Green Building on Upswing Despite Down Market: Report

By GreenerBuildings Staff
Published October 13, 2008

Architecture & Design

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NEW YORK, N.Y. -- Building green is a market advantage in tough times and eco-friendly construction continues to grow even in the current economy, according to a new report.

The report on residential building by McGraw-Hill Construction and the National Association of Home Builders National Green Building Program follows a similarly optimistic report on green building worldwide last month by McGraw-Hill Construction Analytics.

"Green building has definitely reached its upper tipping point," Harvey M. Bernstein, McGraw-Hill Construction vice president of Industry Analytics, Alliances and Strategic Initiatives, said in a statement.

"Builders can no longer ignore the benefits and market advantages of green building," Bernstein said. "Especially considering today's market and current economic situation, builders need to differentiate themselves from their competitors and hold steady or prosper in the down economy. Green building gives builders that opportunity to expand their market share and ride out this economic slump."

The report compares results of a 2006 study with data collected this year. The research found that 40 percent of builders say that environmentally friendly construction makes it easier to market in a down economy and 21 percent of builders expect that 90 percent of their projects will be green in 2009.

The report also found that the Pacific is the region with the greatest growth in green building in the United States with the South Atlantic and Mountain regions following. The East South Central region has the least amount of growth, the report said.

The report, "The Green Home Builder: Navigating for Success in a Down Economy," was published October 1.