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Despite Downturn in the U.S. Housing Market, the Number of Homes Rated and Certified for Federal Tax Credit for Energy Efficient Homes Increased in 2009
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RESNET has completed its survey on the number of tax credit verifications and ratings that were completed in 2009.
In 2009 116,283 homes were rated. . This represents that 31.1% of all new homes sold in the U.S. were rated. This is an increase from the 100,045 homes that were rated in 2008. This means that while the housing market continues to dip the number of ratings is growing. Ratings have clearly joined the mainstream of the housing industry
The story is even better for the federal tax credit for new homes. In 2009 the numbers of homes verified as meeting the tax credit performance of 50% above code was 37,506. According to U.S. Census data on homes sold in the U.S. on homes sold in 2009, this would equate to 10% all of the homes sold in the U.S. qualified for the credit.
This is remarkable in that while the number of new homes sold in 2009 (374,000) dropped from the 485,000 sold in 2008 the absolute number of homes verified for the tax credit increased from the 21,939 that were verified in 2008.
Below is a comparison of homes verified for the tax credit since it started in 2006:
| Year |
Number of Homes |
Number of Homes Sold |
% of Homes Verified |
| 2009 |
37,506 |
374,000 |
10.0% |
| 2008 |
21,939 |
485,000 |
4.6% |
| 2007 |
23,102 |
776,000 |
3.0% |
| 2006 |
7,110 |
1,051,000 |
0.7% |
This demonstrates the effectiveness of the tax credit for energy efficient homes. While the housing market continues to be in a depression, more builders are seeing the economic value of building homes that are rated as high performing. It is appropriate that the extension of the tax credit has been approved by the U.S. Senate and awaiting approval by the House.
RESNET’s congratulations to the nation's raters who have tirelessly worked with their builders to improve home performance even in these hard economic times.
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