You Can Soon Check for a Home's 'Climate Risk'

A swimming pool, eat-in kitchen, and central air aren't the only items on potential homebuyers' wish lists—now, many want to know if their future home is in hurricane, drought, or wildfire territory. In fact, a Zillow survey from last fall found that 80% of consumers shopping for homes consider climate risk when looking for their next abode. Now, the real estate site is helping buyers suss that out by adding a climate risk score to its listings, reports the Washington Post. Data to assess this risk will be provided by the nonprofit First Street Foundation.

In a release last month, Zillow noted that the new scores, based on the likelihood of a climate disaster taking place in any given area, will show the risk in five main categories—flood, wildfire, wind, heat, and air quality—on the company's website and iOS app by year's end. Those with Androids can expect to see the same by early next year. Those interested in the feature can check the score either by clicking on individual listings or by scanning an interactive map. Each home's risk can even be extrapolated out 15 or 30 years—which the Post notes are the most common terms for fixed-rate mortgages. Zillow will also offer insurance suggestions custom-made for each listing. First Street CEO Matthew Eby thinks the new partnership will be a game changer.

"Will this change the buying experience? Absolutely," he tells the Post. Per CNBC, the climate risk scores could have an effect on home values, noting that "as both the cost and necessity of insurance rise, home values in the most affected areas will fall." "Healthy markets are ones where buyers and sellers have access to all relevant data for their decisions," says Zillow chief economist Skylar Olsen, per the release. "As concerns about flooding, extreme temperatures, and wildfires grow—and what that might mean for future insurance costs—this tool also helps agents inform their clients in discussing climate risk, insurance, and long-term affordability." Heatmap isn't entirely convinced, however, calling Zillow's data "flawed but not worthless." (More Zillow stories.)