Housing Equality & Policy
Climate Change
Pending Home Sales Plummet Over 50% in Three Florida Metros Hit by Hurricane Ian
Cape Coral saw pending sales sink 58%—nearly double the national decline—while Naples and North Port saw similar drops. New listings also slumped in all three metros. Pending home sales plunged 58% year over year in the Cape Coral, FL metro area during the four weeks ending Oct. 16 in the aftermath of Hurricane Ian. That’s
Nearly Two-Thirds of Homebuyers and Sellers Are Hesitant to Move Somewhere With Climate Risk: Survey
62% of people who plan to buy or sell a home in the next year are reluctant to relocate to a place at risk of natural disasters, extreme temperatures and/or rising sea levels. 40% of buyers and sellers say climate risk played a role in their decision to move. Still, disaster-prone areas including Florida have
Homebuyers With Access to Flood-Risk Data Bid on Lower-Risk Homes
Redfin users who viewed homes with severe and/or extreme flood risk prior to a Redfin experiment proceeded to bid on homes with 54% less risk after gaining access to risk data. Redfin users in flood-prone Cape Coral, FL, Houston and Baton Rouge, LA were most likely to click into the flood-risk section within home listings.
America Is Increasingly Building Homes in Disaster-Prone Areas
55% of homes being built today face fire risk, compared with 14% of homes built from 1900 to 1959, as suburbanization and a shift to the Sun Belt have driven builders into more vulnerable areas. Recently-built homes are also more likely than older homes to face drought, heat and flood risk, but the gap is
More People Are Moving in Than Out of Places Experiencing Intense Drought
74% of U.S. metros with more than half of homes facing intense drought saw more people move in than out this year. An estimated $17 trillion worth of homes (about 25 million properties) experienced intense drought in August, up 42% from a year earlier. There were 13 metros, including Las Vegas, Sacramento and Austin, where
For Cleveland Homebuyers, the Typical Energy Utility Bill Is Equal to 31% of Mortgage Costs—A Higher Percentage Than Any Other Major Metro
Nationwide, energy costs are taking up a smaller portion of homeowner expenses because they’re not surging nearly as quickly as housing prices. The typical U.S. household spent an estimated $2,127 on energy utility bills in 2021, equal to 14.8% of the annual mortgage payment for homebuyers. That compares with $1,986 (15.8%) a year earlier and
Pending Home Sales Plummet Over 50% in Three Florida Metros Hit by Hurricane Ian
Cape Coral saw pending sales sink 58%—nearly double the national decline—while Naples and North Port saw similar drops. New listings also slumped in all three metros. Pending home sales plunged 58% year over year in the Cape Coral, FL metro area during the four weeks ending Oct. 16 in the aftermath of Hurricane Ian. That’s
Nearly Two-Thirds of Homebuyers and Sellers Are Hesitant to Move Somewhere With Climate Risk: Survey
62% of people who plan to buy or sell a home in the next year are reluctant to relocate to a place at risk of natural disasters, extreme temperatures and/or rising sea levels. 40% of buyers and sellers say climate risk played a role in their decision to move. Still, disaster-prone areas including Florida have
Homebuyers With Access to Flood-Risk Data Bid on Lower-Risk Homes
Redfin users who viewed homes with severe and/or extreme flood risk prior to a Redfin experiment proceeded to bid on homes with 54% less risk after gaining access to risk data. Redfin users in flood-prone Cape Coral, FL, Houston and Baton Rouge, LA were most likely to click into the flood-risk section within home listings.
America Is Increasingly Building Homes in Disaster-Prone Areas
55% of homes being built today face fire risk, compared with 14% of homes built from 1900 to 1959, as suburbanization and a shift to the Sun Belt have driven builders into more vulnerable areas. Recently-built homes are also more likely than older homes to face drought, heat and flood risk, but the gap is
More People Are Moving in Than Out of Places Experiencing Intense Drought
74% of U.S. metros with more than half of homes facing intense drought saw more people move in than out this year. An estimated $17 trillion worth of homes (about 25 million properties) experienced intense drought in August, up 42% from a year earlier. There were 13 metros, including Las Vegas, Sacramento and Austin, where
For Cleveland Homebuyers, the Typical Energy Utility Bill Is Equal to 31% of Mortgage Costs—A Higher Percentage Than Any Other Major Metro
Nationwide, energy costs are taking up a smaller portion of homeowner expenses because they’re not surging nearly as quickly as housing prices. The typical U.S. household spent an estimated $2,127 on energy utility bills in 2021, equal to 14.8% of the annual mortgage payment for homebuyers. That compares with $1,986 (15.8%) a year earlier and
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