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You can now see climate risk data when shopping for a home on Zillow

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By illuminem briefings

· 2 min read


Illuminem summarizes for you the essential news of the day. Read the full piece on CNN or enjoy below:

🗞️ Driving the news: Zillow now displays climate risk data for homes on its platform, offering details on flood, wildfire, wind, heat, and air quality vulnerabilities
This feature, developed in partnership with First Street, helps buyers assess both current and future risks for properties over 15 to 30 years

🔭 The context: As climate-driven disasters like hurricanes and wildfires become more frequent, over 80% of prospective homebuyers now consider climate risk when purchasing a home
Zillow’s new tool provides critical data and even suggests tailored insurance options

🌍 Why it matters for the planet: By integrating climate risk data into real estate decisions, Zillow is helping to raise awareness about the long-term environmental impacts of climate change on housing markets, encouraging more sustainable choices

⏭️ What's next: As natural disasters increase, homebuyers and real estate agents will rely more heavily on climate risk assessments, which could influence property values and insurance markets nationwide

💬 One quote: “Climate risks are now a critical factor in home-buying decisions” - Skylar Olsen, Zillow’s chief economist

📈 One stat: In August 2024, 55% of new Zillow listings carried an extreme heat risk, while 13% faced flood risks

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