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Zillow introduces First Street’s comprehensive climate risk data on for-sale listings across the US

“Zillow® is introducing climate risk data, provided by First Street, the standard for climate risk financial modeling, on for-sale property listings across the U.S. Home shoppers will gain insights into five key risks—flood, wildfire, wind, heat and air quality—directly from listing pages, complete with risk scores, interactive maps and insurance requirements. With more than 80% of buyers now considering climate risks when purchasing a home, this feature provides a clearer understanding of potential hazards, helping buyers to better assess long-term affordability and plan for the future. In assisting buyers to navigate the growing risk of climate change, Zillow is the only platform to feature tailored insurance recommendations alongside detailed historical insights, showing if or when a property has experienced past climate events, such as flooding or wildfires. “Climate risks are now a critical factor in home-buying decisions,” said Skylar Olsen, chief economist at Zillow. “Healthy markets are ones where buyers and sellers have access to all relevant data for their decisions. As concerns about flooding, extreme temperatures and wildfires grow — and what that might mean for future insurance costs — this tool also helps agents inform their clients in discussing climate risk, insurance and long-term affordability.” Climate risk information will be available on the Zillow app for iOS® and on the Zillow website by the end of the year, with Android™ availability expected early next year.”

See also Emerging signals of climate change from the equator to the poles: new insights into a warming world –  The reality of human-induced climate change is unequivocal and exerts an ever-increasing global impact. Access to the latest scientific information on current climate change and projection of future trends is important for planning adaptation measures and for informing international efforts to reduce emissions of greenhouse gases (GHGs). Identification of hazards and risks may be used to assess vulnerability, determine limits to adaptation, and enhance resilience to climate change. This article highlights how recent research programs are continuing to elucidate current processes and advance projections across major climate systems and identifies remaining knowledge gaps. Key findings include projected future increases in monsoon rainfall, resulting from a changing balance between the rainfall-reducing effect of aerosols and rainfall-increasing GHGs; a strengthening of the storm track in the North Atlantic; an increase in the fraction of precipitation that falls as rain at both poles; an increase in the frequency and severity of El Niño Southern Oscillation (ENSO) events, along with changes in ENSO teleconnections to North America and Europe; and an increase in the frequency of hazardous hot-humid extremes. These changes have the potential to increase risks to both human and natural systems. Nevertheless, these risks may be reduced via urgent, science-led adaptation and resilience measures and by reductions in GHGs.

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