Zillow Hides Risk of Fires, Floods, and Storms in Home Listings
Zillow has made a significant change in how it presents climate risk information for property listings. The real estate platform has removed climate risk ratings that indicated the likelihood of homes being affected by extreme weather events.
Zillow’s Climate Risk Ratings: A Brief Overview
Previously, Zillow partnered with First Street, a risk-modeling company, to provide insights on properties vulnerable to various climate hazards. These hazards included floods, wildfires, storms, extreme heat, and deteriorating air quality. The feature was introduced last year to help buyers understand potential environmental risks associated with their desired homes.
Reason for the Change
The decision to remove these ratings follows feedback from the California Regional Multiple Listing Service (CRMLS). Concerns were raised regarding the accuracy of First Street’s risk assessments. According to Art Carter, the CEO of CRMLS, displaying the likelihood of flooding or other risks can significantly influence a property’s appeal to potential buyers.
Current Alternatives for Homebuyers
As of earlier this month, Zillow listings no longer feature risk ratings directly. Instead, homebuyers can access climate risk scores through a link to First Street’s website. This allows users to manually search for climate data related to specific properties.
Understanding the Risks
- Many homes face a real threat of flooding that exceeds government estimates.
- Properties are at risk of other extreme weather events, which may not have been communicated effectively before.
With climate change accelerating, understanding these risks becomes crucial for prospective homeowners. Buyers should prioritize finding accurate information regarding property vulnerabilities, especially in areas prone to extreme weather.
Conclusion
Zillow’s recent adjustments highlight the ongoing conversation about climate risk transparency in real estate transactions. As buyers navigate the complexities of property purchases, access to precise and reliable environmental data will be essential for informed decision-making.
