Press release
Realtor.com® Equips Consumers with More Data to Evaluate the Potential Impacts of Climate Risks on Their Home
New research shows 32.5% of homes are at risk of extreme heat, 18.1% are at risk of wind (gusts exceeding 50 mph) and 9% are at risk of poor air quality SANTA
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[{"type":"text","content":"New research shows 32.5% of homes are at risk of extreme heat, 18.1% are at risk of wind (gusts exceeding 50 mph) and 9% are at risk of poor air quality\nSANTA CLARA, Calif., March 13, 2024 /PRNewswire/ -- In the United States, 40.4% of homes, valued at $19.7 trillion, are at severe or extreme risk when it comes to heat, wind and air quality. To help consumers make more informed home buying and selling decisions, Realtor.com® announces the launch of three new climate risk factor scores on its website including Heat Factor™, Wind Factor™, and Air Factor™, with data from First Street, a leading climate technology company with expertise in climate change and the connection of climate risk to financial risk.\n\n\"Realtor.com® currently offers users an in-depth look at fire and flood risks. When you consider the percentage of American homes, and the value at risk, against factors like extreme heat, air quality and wind, it was imperative for us to deliver more robust and comprehensive climate risk information to our users,\" said Mausam Bhatt, Chief Product and Technology Officer, Realtor.com®. \"It's important for people to fully understand the climate risks that a home faces not only in the present, but in the future, so they can make the most informed decision for one of the biggest purchases and investments they will make in their life.\"\nClimate Risk\nValue at Risk\nShare of Homes Affected\nExtreme Heat \n$13.6 trillion\n32.5 %\nExtreme Wind\n$7.7 trillion\n18.1 %\nAir Quality \n$6.6 trillion\n9.0 %\n2024 Realtor.com Climate Risk Report \nRealtor.com® uses First Street's models that calculate property-level climate risk to present digestible, easy to understand information for its users. Home buyers and sellers can now more fully understand the climate risk associated with a property through maps illustrating exposure to risk factors. They can toggle between factors to see how a particular risk may affect the home's area in the present and over time, showing current exposure to risks and the expected change for each risk in 15 years, and in 30 years, the length of a typical mortgage. \nAcross the U.S., certain areas have more value at risk relative to specific climate factors. For example, Miami holds the highest total value of homes at risk for severe or extreme heat (valued at $1,258 billion) and wind (valued at $1,276 billio...