While nearly one in four homes across the United States are located in areas susceptible to severe weather conditions, many homebuyers are still seeking out properties in these high-risk regions, a July Realtor.com report found.
The organization’s data show that 23.1 percent of America’s homes—with an estimated $11.2 trillion in value—are currently situated in areas prone to natural disasters.
The report indicates that, despite the likelihood of flooding, wildfires, or extreme windstorms in some areas, homebuyer demand remains strong, often driven by lower list prices than in nearby lower-risk areas.
“Price is still the biggest motivator for a lot of home shoppers, even in places where climate risk is well known,” Realtor.com economist Jiayi Xu said in the report….