Climate Hazards, Risks & Insurance Costs Affect Nationwide Homebuying Activity
A new LendingTree study reveals that climate change concerns are affecting homebuying decisions in the US, with 30% of homeowners citing climate hazards as a reason not to purchase a home. The study also found that 68% of homeowners are concerned about climate-related risks affecting their property in the next decade.
A recent LendingTree study found that climate change is significantly impacting homebuying decisions in the US. 30% of homeowners have chosen not to buy or make an offer on a home due to concerns about climate hazards and risks. The top climate-related concerns include power outages, winter storms, and severe storms. 68% of homeowners are worried that climate-related risks will affect their property in the next 10 years. 88% of Americans have experienced a climate-related hazard in the last 5 years, with severe weather-related power outages being the most common. The effects of climate change are being felt across different types of housing and geographical areas, with 27% of those affected reporting damage and 18% making repairs as a result.
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