I'll never forget moving into my first home during junior year of college. It was a spacious, rambling ranch with over 4.6 acres of wooded area at the end of a quiet neighborhood. It was anything but typical for a college student, so understandably, we were head over heels and excited to move in.
I know what you’re thinking, “not another COVID-19 blog.” Understandable, though as industries across the nation face impending challenges due to the pandemic, these unprecedented times call for unprecedented measures to remediate further business interruptions.With economic impacts intensifying across the nation, the real estate industry has been quick to make changes and adapt to current social distancing guidelines.
The market of buying and selling homes is evolving, with consumers mindful of sustainability and the environment. At the same time, our homes are evolving and new technologies and practices are becoming increasingly prevalent in the real estate market. These technologies and practices make a home far more energy efficient than the housing stock to which we are accustomed.
Here’s a hypothetical situation (perhaps a strictly hypothetical one if you’re a millennial like me):
The energy-efficient home market in the Northeast and Mid-Atlantic continues to grow at a steady pace. The market penetration of high-performance homes in the United States reached $36 Billion in 2013 and is projected to hit $72 Billion by 2016 (Source, McGraw Hill Construction). Consumers are seeking green and energy efficient features, and builders are striving to meet the demand.