Economists' Outlook

Housing stats and analysis from NAR's research experts.

St. Patrick’s Day: Green and Energy Efficient Home Features

How do green features influence buyers’ purchasing choices? Using the 2014 Profile of Home Buyers and Sellers and the 2015 Home Buyer and Seller Generational Trends report, it is apparent that green and energy efficient features are important to a significant portion of recent home buyers.

All Buyers:

  • The importance of the home’s environmentally friendly features which were described as very important or somewhat important included:
    • Heating and cooling costs: 86 percent
    • Energy Efficient Appliances: 68 percent
    • Energy Efficient Lighting: 66 percent
    • Landscaping for Energy Conservation: 46 percent
    • Environmentally Friendly Community Features: 47 percent
    • Solar Panels Installed on Home: 11 percent

geen importance

  • When purchasing a newly-built home, one of the top reasons was for green/energy efficiency features. Nine percent of buyers cited this as the reason for their newly-built home purchase.

Generational Trends:

  • Ten percent of the 34 and younger age group described the reason for their new home purchase as for green/efficiency reasons. Nine percent of 35 to 49 year olds and 60 to 68 years olds also said that green/ energy efficiency was the reason for their newly-built home purchase.
  • Among buyers who considered environmentally friendly features as “Very Important” here are the top age groups in each category:
    • Heating and cooling costs: 40 percent of 60 to 68 year olds.
    • Commuting costs: 39 percent of buyers aged 34 or younger.
    • Energy efficient appliances: 37 percent of 60 to 68 year olds.
    • Energy efficient lighting: 25 percent of both 50 to 59 year olds and 60 to 68 year olds.
    • Landscaping for energy conservation: 13 percent of 60 to 68 year olds.
    • Environmentally friendly community features: 11 percent of both 35 to 49 and 60 to 68 year olds.
    • Solar Panels installed on home: 2 percent of 35 to 49, 50 to 59, and 60 to 68 year olds.

Green Generations

For more information on Home Buyers and Sellers check out the Going Green Infographic, the 2015 Home Buyer and Seller Generational Trends report, and the 2014 Profile of Home Buyers and Sellers.

 

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