The Housing Market & Green Communities Future

Everyone knows the current condition of the housing market is less than favorable, and many people wonder what it will take to get the market back on its feet. I’m sure time is a huge factor in the recovery of the housing market, but the emergence of green communities may actually speed things up a little. According to a report from McGraw-Hill Construction, 40% of builders believe building green houses and communities helps them market houses, even with the down market.

In case you didn’t know, the goal of green building is to use recycled products to create a building that is energy and water efficient all while minimizing waste. These communities are becoming increasingly popular because of the growing concern for the environment; another reason for the growth is the reduce cost of energy. These houses may have higher up front cost but over time, they’ll pay off by saving money through reduced energy consumption.

So how will environmentally sustainable houses save the day? Investing in green houses can be expensive. The materials, the labor and even the newness of green building drive the price up a bit. But many home builders, developers, etc… are quickly realizing that green communities are not just a trend, they are the future. The same survey by McGraw-Hill says the green building market is expected to double from 12% market share to 20% market share by the year 2012.

A green builder from Delaware says his company is thriving and even claims he had a customer from Maryland who paid the down payment on a house that hadn’t even been started yet.

Green communities are not longer a specialty; they are well on their way to becoming mainstream. Just a couple weeks ago, California became the first state to adopt green building standards. The standards were developed by the California Building Standards Commission and several other state agencies. The code contains standards for houses, commercial buildings, schools, hospitals, and other non-residential buildings. Although the standards will go into effect in a couple months, they remain voluntary until the year 2010. This time period gives developers, builders, governments and communities the time needed to adjust to the new standards.

Governments and organizations around the country are also realizing the importance of green building by awarding green building grants to homeowners, non profit organizations and government organizations. I’m sure these grants are given with the goal of minimizing the impact of buildings on the environment, but they are simultaneously giving a much needed boost to our economy.

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