The climate’s toddler-like, harder-than-ever-to-predict behavior is having a measurable impact on the housing market, a reality that led to Realtor.com partnering with First Street, a non-profit organization that provides data and critical resources on climate change.
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Homeowners in hurricane-prone states notched along the Sunbelt and those under constant threat of wildfire throughout California are having home insurance policies canceled with little notice. New buyers need to plan for delays in finding a home based on which carriers are willing to take the risk.
In summary, the climate’s toddler-like, harder-than-ever-to-predict behavior is having a measurable impact on the housing market, a reality that led to Realtor.com partnering with First Street, a non-profit organization that provides data and critical resources on climate change and weather-related disasters. The property portal is using the foundation to deliver insights on temperature, wind events and air quality to aspiring homebuyers and real estate agents, Inman has learned.
Realtor.com will deploy the data in three content modules: Fire Factor, Wind Factor and Air Factor, according to a March 13 press release. Each component will apply rankings to the number of days a property experiences extreme instances of each.
“Users 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,” the release stated.
First Street’s mission is clear — “To connect climate risk to financial risk,” according to its website. The…