More than half (58%) of U.S. homeowners have invested in making their homes more resilient to climate threats, according to a new report from Redfin.
In a survey of 1,000 homeowners nationwide, roughly one-quarter (26%) said they”™ve spent money to make their home more resilient against extreme heat. The other risks that spurred homeowners include extreme cold (22%), flooding (16%), hurricanes and major tropical storms (14%), poor air quality (13%), tornadoes (12%), earthquakes (11%) and wildfires (11%).
In Florida, nearly three-quarters (71%) of homeowners have spent money to protect their residences from climate risk, with 40% of homeowners focusing on increased resiliency against hurricanes or other tropical storms.
“Americans are shelling out cash to fortify their homes against natural disasters as they increasingly move to at-risk areas despite intensifying climate change. Unfortunately, their investments aren”™t always enough ”“ a reality that came into focus when Hurricane Ian destroyed scores of homes, many of which lacked flood insurance,” said Redfin Chief Economist Daryl Fairweather. “Homeowners should be aware that their property value could drop over time if their area becomes uninsurable and/or uninhabitable due to climate change.”
