Prospective Buyers Consider Impacts of Climate Risk on Housing

Although high interest rates and rising home prices have been a central concern for homebuyers, recent weather events—including both hurricanes Helene and Milton—have given prospective buyers something else to consider when selecting a home. Despite recent concerns surrounding high insurance rates and potential home damage, approximately 80% of current homeowners say they are not considering moving, according to consumer research platform Civic Science. However, when it comes to new homebuyers, the data looks very different.

While most Americans aren’t planning to relocate due to extreme weather, it still heavily influences home buying decisions. CivicScience data show that 83% of those planning to look for a new home in the next year consider climate risk at least ‘somewhat’ important, with 46% rating it as ‘very’ important in their decision-making process.

This concern spans age groups, with Gen Z (18-24) equally as likely as those aged 55+ to view it as important, though those over 55 are far more likely to consider it ‘very’ important. Climate risk also ranks high across political lines, with 78% of Republicans and 93% of Democrats seeing it as an important factor. Read more