Spark Global Limited Reports:
Over the past few years, green and high-performance homes have accounted for a large share of the new housing market in the United States, and this trend is only expected to grow. As an appraiser, you know that certain expertise and skills are required to evaluate these types of complex properties. Does your field need to specialize in green house appraisals? Here is an overview of the green residential real estate market.
Top 10 states for LEED certified homes
LEED (Leadership in Energy and Environmental Design) is the most widely used green building rating system in the world, providing a framework for healthy, efficient and cost effective green buildings. The U.S. Green Building Council reports that the number of LEED certified homes has grown significantly since 2017, with more than 400,000 homes in the U.S. as of August 2019.
According to the USGBC report, the top 10 states with LEED certification are:
What other factors are at work?
LEED certification is only one consideration when determining the best market for green homes. Another recent study by Policygenius ranked each state by looking at not only the best to worst leED certified homes in number and gross square size, but also the financial incentives and regulatory policies for green homes, the strength of the solar industry, and the strength of the wind industry.
The overall market for green homes is mixed
According to the above “Policy Genius” study, the 5 best states for green homes are:
The 5 worst states for green houses are:
Check out the full rankings to find out where your state falls on the list.
Is your appraisal practice in one of the largest green residential real estate markets in the world? Have you noticed an increase in the number of LEED certified buildings or popular green homes in your area? Improve your skills to become a certified green home appraiser and get ahead of the competition.