Americans Flocking To Florida Value Lifestyle Over Climate Risks

Americans are aware of the risks to coastal communities posed by climate change but keep flocking there anyway, proving lifestyle outweighs the future value of their homes — for now. In a survey of 2,000 consumers, 51% of homeowners said they are worried about how increasing global temperatures will impact their homes.  Though drought and fire concerned homeowners, the most distressing possibilities were water damage. Severe storms were the most common concern, followed by hurricanes and flooding. When it comes to coastal properties, a whopping 38% are convinced they will become uninhabitable. An additional 47% think they will be “liveable but less valuable.” But Americans are still moving to sunny, storm-prone Florida in droves, even though they claim to understand…

American Buyers Are Flocking To Regions With High Climate Risk For Homes

Americans are paying top dollar to live in areas prone to devastating environmental disasters, with home prices soaring in these locations. A new report from real estate publication Home Bay found that home prices are increasing at a higher rate than the national median in the areas most impacted by climate change. Home sales prices are up 167% in metros within states that have had at least 50 Federal Emergency Management Agency (FEMA) disaster declarations since 2012. By comparison, the national median increase is only 113%. FEMA ranks California, Texas, Florida, Louisiana, and North Carolina as the states with the highest risk for homeowners– that is, the states that are most likely to have disasters that threaten buildings, people, and…

Eco-Friendly Homes Sell For More Money And Faster Than Similar Homes

Homes with eco-conscious features can sell faster and for more money than similar homes without them, a new analysis from Zillow found. Zillow looked at environment-related features mentioned in listing descriptions for 3.1 million home sales in 2020 and 2021. The analysis found that homes featuring electric vehicle chargers and drought-resistant landscaping can sell nine days faster than similar homes.  Features that protect against climate-related disasters such as hurricane shutters can sell for as much as 2.4% more than expected. Energy-efficient features can also help homes sell for more money and sometimes faster, with listings that mention solar panels selling for 1.4% more and listings including smart sprinkler systems and smart lights selling up to six days faster than expected.…

Delinquencies Hit Record Low In December 2021

U.S. delinquencies hit their lowest level ever recorded by CoreLogic in December 2021, the result of improving employment and soaring equity, the company’s Loan Performance Insights Report revealed. Only 3.4% of all mortgages were in some stage of delinquency (30 days or more past due), down 2.4% annually. This is the lowest recorded delinquency rate since at least January 1999. Delinquencies declined in every state, with the largest drops in Nevada, Hawaii, Florida, New Jersey, and New York. Early-stage delinquencies (30-59 days past due) accounted for 1.2% of mortgages, down from 1.4% YOY, while adverse delinquencies (60-89 days) fell from 0.5% to 0.3%. Serious delinquencies (90 or more days), which peaked at 4.3% in August 2020, saw a serious drop…