Rising Climate Risks Drive 13% of US Homebuyers to Consider Moving

A recent Redfin survey reveals that 13.7% of U.S. homebuyers plan to move within the next year due to concerns about natural disasters and climate risks. For the first time since 2010, homes in low-risk areas are appreciating in value more quickly than those in high-risk zones. The total value of homes in low-risk categories—heat, flood, and fire—has seen notable year-over-year increases, reflecting a shift in buyer preferences.

Redfin’s report highlights the broader implications of climate concerns, with Senior Economist Elijah de la Campa emphasizing that climate change and rising insurance costs are reshaping the housing market. High-risk areas, such as parts of Florida and Texas, have experienced slower value growth due to natural disaster risks and escalating costs for insurance and taxes.

California is also witnessing migration trends driven by climate concerns, with more people leaving high-fire-risk zones. Additionally, events like Hurricane Helene have caused young adults to rethink their living arrangements. While many still move to disaster-prone areas, the growing demand for low-risk homes signals a significant shift in buyer priorities.