Green is the color of envy. It's also the color of environmentalism. And now, according to new research, it's also the color of happiness.

The study by McGraw-Hill Construction and co-sponsored by the National Association of Home Builders found that home owners are happier with their new green homes than with their previous homes, and that they are eager to recommend buying green to others

More importantly, perhaps, the research provides the first estimate of the true size of the green home market, screening out green owners from a representative panel of U.S. home owners.

According to the study, less than 1 percent -- 0.3 percent, to be exact -- of all American homes are truly green; that is, the contain elements of at least three of the five environmental building categories.

"Though it's still a small number, builders are already getting it when it comes to the value of real green homes, and it appears homeowners are too," says Harvey M. Bernstein, vice president of industry analytics at McGraw-Hill.

Researchers found that last year, roughly 2 percent of the residential construction market had at least one green building element, such as energy-efficient appliances. But Bernstein maintains that both builders and their buyers "are really starting to commit to building truly green homes."

They are "moving away from just adding energy efficient appliances or one aspect that's green," he said, and starting to paying more attention than ever "to the holistic benefit of green."

McGraw-Hill's study found that owners are extremely happy with their green homes, with 85 percent happier with their new green homes versus their previous non-green ones. And they're not shy about sharing those feelings.

This finding is "powerful," according to Bernstein, because 28 percent of the owners reported first hearing about green homes through word of mouth.

"We're excited that green homeowners are so happy with their homes and that they're willing to share the good news," says Ray Tonjes, chairman of the NAHB Green Building Subcommittee and a builder in Austin, Texas, who specializes in green house.

"NAHB and its members have been leaders in the voluntary movement to increase the energy and resource efficiency and quality of homes, and it is great news that these consumers are so satisfied with their high-performing homes. Green building's market share will continue to expand."

Here are some of the study's other more interesting findings:

• The new green homeowner is affluent and well educated, in his/her mid forties and married, and also more likely to be from the Southern or Western states. Women are also more likely to be green homeowners.

• Operating costs matter. Sixty-three percent report lower operating and maintenance costs as the key motivation behind buying a green home. Less than half report environmental concerns and family health as motivators as the main motivators for going green.

• Lack of awareness, higher costs and scarcity lead the list of obstacles to going green. The top three obstacles, all hovering over 60 percent of respondents, were oriented around education, additional costs involved in green homes and the availability of the homes. But the single largest hurdle was viewed as education, or the lack thereof.

Published: April 4, 2007

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When Lew Sichelman first started writing about housing in 1969, he was the youngest real estate writer in the country. Now, 37 years later, he's one of the oldest -- and most decorated. He has been rated the top housing columnist in the country by the National Association of Realtors as well as by his peers in the National Association of Real Estate Editors. Indeed, NAREE has recognized his work on numerous occasions. One year - due to his advancing age, he can't recall which one - he earned top honors in the annual NAREE Journalism Contest in three out of the four major writing categories. It was the first time one writer has won so many NAREE awards in a single year. Known for his ability to make even the most difficult topics understandable, Sichelman also has been honored by the National Association of Home Builders and the Mortgage Bankers Association. He began providing in-depth coverage of and consumer-oriented information about housing and housing finance at the Washington Daily News, where he was real estate editor. He held that same position for nine more years at the Washington Star, which purchased the News in 1972. The Star, a so-called "writer's newspaper" which also had the misfortune of being an evening paper, was put out of its misery in 1981, and Sichelman, who had begun self-syndicating his column in 1978, decided to become a full-time columnist. Today, his column, "The Housing Scene," is distributed by United Media to newspapers throughout the country. He also is on the staff of National Mortgage News, an independent newspaper which is considered the bible of the mortgage business. And he writes for numerous other publications, including MarketWatch.com, where he answers readers questions once a week, Sports Illustrated (don't ask), RealtyTimes.com, BigBuilder and others. Sichelman is married, the father of five and grandfather of eleven.