Amid Climate Concerns, Redfin Adds Air Quality Risk Data To Listings

Key Takeaways:

– Redfin has partnered with First Street to provide air quality risk data for every listing on its app and website, along with data for wildfire, flood, wind, and extreme heat.
– The number of poor air quality days in the western United States has increased by 477% between 2000 and 2021 due to wildfire smoke and climate change.
– Redfin’s new feature comes as more people consider environmental risks when purchasing a home.
– A report by Redfin found that 1 million more people moved out of cities with high air quality risk than moved in, primarily due to the higher cost of living in those areas.
– Areas with the highest risk of poor air quality are concentrated in the West, particularly in expensive states like California.
– Redfin economists predict that as climate change intensifies, more homebuyers will factor air quality and other disaster risks into their decisions.

inman:

Redfin will provide air quality risk data for every listing on its app and website, alongside data for wildfire, flood, wind and extreme heat.

Mark your calendars for the ultimate real estate experiences with Inman’s upcoming events! Dive into the future at Connect Miami, immerse in luxury at Luxury Connect, and converge with industry leaders at Inman Connect Las Vegas. Discover more and join the industry’s best at inman.com/events.

A new feature from Redfin allows home shoppers to view air quality risk data for individual properties.

Through a partnership with the climate risk data provider First Street, Redfin will provide air quality risk data for every listing on its app and website, alongside the data for wildfire, flood, wind and extreme heat it already provides, the company announced on Monday.

“Redfin wants to ensure that every single person searching for a home has the information they need to understand climate risks,” said Redfin Senior Vice President of Product and Design Ariel Dos Santos. “Air pollution is an important consideration as poor air quality becomes more frequent due to climate threats such as wildfire smoke.”

The new feature comes as the number of poor air quality days in the western United States has surged by approximately 477 percent between 2000 and 2021, largely because of wildfire smoke as climate change has intensified the threat posed by wildfire. The eastern United States has begun to feel the effects of wildfires as well, with smoke from Canadian wildfires reaching the East Coast this past summer at unprecedented levels.

A report published by Redfin this week found that about 1 million more people moved out of than into American cities with a high risk of poor air quality in 2021 and 2022, while cities with low risk saw 1 million more people move in than out. Their main reason for leaving wasn’t air quality, though — it was the higher cost of living in high-risk cities.

Areas with the highest risk of poor air quality are concentrated in the West, often in expensive states like California. The median home sale price for areas with high risk for poor air quality was $563,710 as of December 2023, according to Redfin — 65 percent higher than the median sale price of $341,483  in low-risk cities.

As climate change intensifies, we’ll likely see this shift, with more homebuyers considering environmental risk when purchasing a home, Redfin economists predicted.

“Deciding where to live is all about prioritization. With housing costs hovering near their record high, the top priority for many homebuyers is getting a good deal,” said Redfin Chief Economist Daryl Fairweather. “Even when homebuyers do consider climate change, poor air quality often isn’t top of mind because it’s not as visibly destructive as hazards like flooding and fires. But as the dangers of climate change intensify, we will likely see more people factor air quality and other disaster risks into their decisions about where to settle down.”

Email Ben Verde


Source link

Property Chomp's Take:

Have you ever considered the air quality of a potential property before purchasing it? Well, now you can. Redfin, a popular real estate platform, has recently partnered with climate risk data provider First Street to provide air quality risk data for every listing on its app and website. This new feature aims to give home shoppers a comprehensive understanding of the climate risks associated with a property.

In addition to air quality, Redfin already provides data for wildfire, flood, wind, and extreme heat risks. By including air quality risk data, Redfin hopes to ensure that every person searching for a home has the necessary information to make informed decisions. With poor air quality becoming more frequent due to climate threats like wildfire smoke, it is crucial for homebuyers to consider this factor.

The western United States has experienced a significant increase in poor air quality days, with a surge of approximately 477 percent between 2000 and 2021. This rise can be attributed to the intensification of wildfires caused by climate change. Moreover, the effects of wildfires are no longer limited to the western states, as smoke from Canadian wildfires reached the East Coast last summer at unprecedented levels.

A recent report published by Redfin found that approximately 1 million more people moved out of American cities with a high risk of poor air quality in 2021 and 2022, while cities with low risk saw a net influx of 1 million people. However, the main reason for leaving high-risk cities was not air quality itself but rather the higher cost of living. This suggests that although air quality may not be the top priority for homebuyers, it is an increasingly important factor to consider.

Areas with the highest risk of poor air quality are typically concentrated in the West, particularly in states like California. According to Redfin, the median home sale price in areas with a high risk for poor air quality is 65 percent higher than in low-risk cities. As climate change continues to intensify, it is likely that more homebuyers will consider environmental risks when purchasing a home.

Daryl Fairweather, Chief Economist at Redfin, highlights the importance of considering air quality and other disaster risks as climate change poses greater dangers. While poor air quality may not be as visibly destructive as flooding or fires, it is crucial to factor it into decisions about where to settle down.

In conclusion, Redfin's new feature offering air quality risk data for every listing is a step in the right direction. By providing home shoppers with comprehensive climate risk information, they empower individuals to make informed decisions about their future homes. As climate change intensifies, it is essential for homebuyers to consider not only the physical attributes of a property but also its potential climate risks.

Leave a Reply

Your email address will not be published. Required fields are marked *