Improving the financial return and market understanding of the higher value and added benefits of energy efficient, green and high performance homes and buildings is a critical step in advancing North Carolina’s building performance industry. NCBPA is leading efforts to develop and implement the resources needed to make this happen.
Resources for Residential Builders and Realtors
Residential builders, Realtors and many others working with them can use the following resources included in NCBPA’s 2017 Inventory Report to help ensure a higher sale price or appraised value for a new or existing high performance home. These documents include simple steps that these stakeholders can take to help ensure that the right information about the home makes it into the hands of the right stakeholders.
Click here to download steps that Builders and Home Builders Associations can take to improve high performance home valuation.
Click here to download steps that Realtors and MLS Providers can take to improve high performance home valuation.
Click here to download the Green and Energy Efficient Addendum from the Appraisal Institute.
In January of 2017, NCBPA’s Board of Directors established market valuation as one of the association’s four strategic initiatives. Since that time, we have been steadily working with our member companies on the following activities:
Supporting responsible and cost-effective improvements to minimum building performance standards and codes that drive additional value for high performance homes and buildings.
Supporting and conducting research on new products, services and construction practices that bring new value into our market.
Increasing appraised values by educating realtors, appraisers, lenders and many others on the short-term benefits and long-lasting reduced total cost of ownership of high performance homes and buildings.
Improving the visibility of high performance building features in MLS directories by educating realtors, builders and MLS providers on steps that can be taken to improve visibility and return value.
Providing useful education and valuation resources to realtors, appraisers, lenders and also consumers through NCBPA resources including our consumer education websites www.HomeEnergyNC.org and www.BuildingPerformanceNC.org.
Funding Needed to Support This Work
NCBPA seeks $25,000 of funding to perform our annual market inventory report, last completed in March of 2018, to gather valuable insight on NC’s residential and commercial building markets with a major focus on defining the added financial value of high performance commercial buildings. In 2018, NCBPA identified a 9.5% premium for high performance homes by comparing sale prices from code built homes versus those with home energy ratings and third-party certification programs like ENERGY STAR, NGBS, LEED and others. NCBPA seeks funding to perform this same study on NC’s commercial buildings market to develop hard data that clearly demonstrates the higher financial value of commercial buildings that are built or retrofitted to energy efficient, green building and high performance standards. Contact us if you’d like to participate or help fund this work.
NCBPA’s Market Valuation Resources
In March of 2018, NCBPA released its “2017 Annual Energy Efficient, Green and High Performance Home and Building Inventory Report” that identified 34,152 high performance homes and buildings being built or retrofitted in the state in 2016 and found a 9.5% price premium for high performance homes sold in three of North Carolina’s metro markets between 2015 and 2016. Since 2007, the report identifies 198,525 high performance homes and buildings in the state.
Each year, the report analyzes data from certification and rating programs used to measure homes and buildings for energy efficient, green and high performance features. The 2017 report includes what is believed to be the most comprehensive high performance home sale price analysis performed to date in the country, which compares the prices of 3,908 high performance homes sold in the Charlotte, Triad and Triangle markets between 2015 and 2016 to all other home sales.
Click here to download the report.
Click here to read our press release announcing the report.
Search Twitter for hashtag #ThatsBuildingPerformance to view social media posts about the report.
Additional news articles about this report include:
- SIPA: New Report Shows Lower HERS Index Scores Command Better Sales Price
- RESNET: New Report Shows Lower HERS Index Scores Command Better Sales Price
- DOE: High Performance Homes Deliver 9.5% Premium
- Southern Energy Management: 8 Key Numbers to Know from the NCBPA 2017 Building Inventory Report
- Southeast Energy News: Q&A: Building expert on North Carolina’s high-performance homes
- Homes by Dickerson: North Carolina Building Performance Association reports the value of building high performance homes
- Ekotrope: Report finds 9.5% premium for high performance homes sold in North Carolina’s metro markets
Awards and Recognition
On January 10th of 2018, our Executive Director Ryan Miller was awarded the 2017 Young Green Professional of the Year award by the National Association of Home Builders for completing our 2017 Inventory Report, which includes innovative best practices and recommendations for residential builders, MLS directories and stakeholders to take on to improve market valuation.