What threat do heat, flood, drought and fire pose to a house as the earth warms? Redfin says it’s adding ClimateCheck, scaled 1-100, to each listing on its website.
SEATTLE – Real estate brokerage Redfin has begun to publish climate risk data for each of its listings and throughout its website. It says the information will help homebuyers and homeowners understand the future threat of fire, heat, drought and storms to U.S. properties as the earth warms.
The ClimateCheck rating is based on a 0–100 scale and rates the risk faced by counties, cities, neighborhoods and ZIP codes. The ratings reflect future risk and how that t will change over time.
“A home is a huge financial investment, and these days consumers are seeing all too many examples of climate-related risks, like fires, floods and heatwaves,” says Christian Taubman, Redfin’s chief growth officer.
A new consumer survey found that Americans are factoring climate change into their homebuying decisions, according to Redfin. About half of 2,000 survey respondents who plan to move in the next year said extreme temperatures and an increasing frequency or intensity of natural disasters played a role in their decision to relocate. About one-third of respondents said rising sea levels influenced their decision to move away – or to – a destination.
Nearly 80% of consumers said that an area seeing an increased frequency or intensity of natural disasters would make them hesitant to buy a home there. In addition, more than one-third of homeowners said they have spent at least $5,000 in protecting their homes against climate threats.
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