The popular real estate platform Zillow has long rated homes on things like walkability and school districts. Now it’ll let you know if you need to worry about wildfires or extreme weather, too.
On Thursday, the company announced it will be adding climate risk scores and insurance information to for-sale listings on its online marketplace — saving millions of home-searching millennials from asking, “Wait, why does my dream house have such a low asking price?”
Home Ownership? In This Climate?
Climate risks have reshaped the economics of homeownership in the US. The price of home insurance has spiked by an average of 33% since 2019, according to a recent New York Times data analysis. Meanwhile, major insurance firms are ditching high-risk states altogether: Now, 12% of all US homeowners live without insurance, up from just 5% in 2015, according to the Insurance Information Institute…