New research from real estate tracking firm Zillow cites increasing concern about climate change by prospective homebuyers. The report indicates that buyers in the Northeast who prioritize climate risk in their purchasing decisions reached 85% in 2023. In Boston, “the value of homes at risk from extreme winds now exceeds $1 million. For flood risk the value totals $152.6%”, according to a report in Boston Agent Magazine. The article continues:
“‘Climate risks impact where most prospective buyers shop for a home,’” Zillow Senior Population Scientist Manny Garcia said in a press release. “‘While all generations juggle trade-offs like budget, floor plans and commute times, younger home shoppers… want to know if their home will be safe from rising waters, extreme temperatures and wildfires.‘
With more homes qualifying as at-risk for climate-related harm, buyers are exercising caution.”
Read the article.