U.S. Homebuyers Weigh Climate Risk

More than four in five US homebuyers are factoring in climate risks when they shop for a new house, according to a new survey by real estate firm Zillow.

Some 83% of respondents said they weighed at least one climate risk such as floods, extreme temperatures, wildfires, hurricanes or droughts in their purchase plans, according to Zillow’s poll of almost 12,000 prospective buyers conducted between April and July 2023.

The perceived climate risks generally aren’t proving to be deal-breakers but they are affecting attitudes, according to the study. Younger buyers, in particular, “want to know if their home will be safe from rising waters, extreme temperatures and wildfires,” said Zillow senior population scientist Manny Garcia.

Source: Bloomberg