Prospective buyers in certain regions of the U.S. were more likely to consider climate risks when shopping for a home, according to Zillow’s research.
For most, a major concern was found to be the risk of flooding, followed by wildfires, extreme temperatures, hurricanes and drought, the real estate platform said. Homeowners face rising insurance rates as climate change makes wildfires, storms more common
Conversely, one-third of Midwestern and Southern prospective home buyers said climate risks were not very impactful or not at all impactful to their real estate search. For younger home buyers, climate risks appeared to be more top of mind. Millennial and Gen Z shoppers — who comprise 54% of all home buyers — were found to be most likely to consider a climate risk when determining where to shop for a home, according to Zillow’s research.
About half planned to remain in areas that pose the same climate risks they already faced, while 27% were even considering moving to areas with more risks.
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