SoCal Wildfires Will 'Exacerbate an Already Challenging Market'

Currently, six wildfires in Southern California have damaged 141,000 acres of land, and forced 212,000 people to evacuate, according to the latest data from the California Department of Forestry and Fire Protection.

The 2017 Verisk Wildfire Risk Analysis says that in all of California, nearly 2,045,000 homes (15 percent of the state's households) are labeled at high or extreme risk from wildfires. However, real estate brokerage Pacific Union says that after the wildfires in Sonoma and Napa, median prices of single-family houses rose between 6.1 percent and 7.5 percent in those areas from September to November, per Realtor.com.

More than 86,000 homes in Ventura and Los Angeles counties are at risk of damage from this latest round of fires, according to real estate data firm CoreLogic. That could cost $27.7 billion to rebuild. And these figures don't include the more recent blazes that broke out in San Diego to the south and Riverside County, east of L.A.

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