The real estate industry is pressuring Zillow and other sites to nix extreme weather risk data

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🗞️ Driving the news: Zillow, the leading real estate listing platform, has removed climate risk data from its property listings following pressure from the California Regional Multiple Listing Service (CRMLS)
• The data, provided by First Street, indicated risks of floods, wildfires, and other extreme weather events, which have been shown to affect property sales
• While critics argue that such information is vital for consumer protection, the real estate industry is pushing back, citing potential harm to sales in a struggling market

🔭 The context: As climate change-related risks grow, more buyers are turning to real estate platforms for data on potential weather hazards that could affect their new homes
• First Street’s data, which claims to be more accurate than federal maps like FEMA’s, offers insights into future risks
• However, as housing markets tighten, real estate groups argue that such data can hinder sales, especially when predictions seem inaccurate for properties with no history of flooding or fires

🌍 Why it matters for the planet: The debate over climate risk data reflects a larger challenge in addressing climate change's financial and social impact
• While providing transparency can empower buyers, conflicting information about risks can influence markets, property values, and the accessibility of insurance
• As climate-related risks escalate, balancing accurate data with economic realities is crucial for long-term resilience

⏭️ What’s next: The ongoing debate could lead to new regulations or standards for how climate risk data is presented in real estate markets
• As more buyers demand transparency, companies like First Street may face increased scrutiny over the reliability and accessibility of their data

💬 One quote: “Climate risk data didn’t suddenly become inconvenient; it became harder to ignore in a stressed market.” — Matthew Eby, First Street CEO

📈 One stat: Zillow’s own analysis found that 52% of high-risk homes listed in June 2024 sold by March 2025, compared to 71% of low-risk homes.

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