Zillow to Display Climate Risk Data on U.S. Property Listings

In a significant move towards enhancing transparency and consumer awareness, Zillow announced yesterday that it will integrate comprehensive climate risk data into its property listings across the United States. This new feature, developed in partnership with First Street, a company renowned for its expertise in climate risk financial modeling, aims to provide potential homeowners with critical information about environmental risks associated with properties.

The climate risk data will encompass several key factors, including the likelihood of wildfires, flooding, extreme temperatures, high winds, and poor air quality. Additionally, Zillow will inform users about the types of insurance that are required or recommended for specific properties. This initiative will be rolled out on Zillow’s website and iOS app by the end of the year, with the Android app expected to follow early next year.

Recent statistics from Zillow indicate that a substantial portion of listings in August faced significant climate risks: 16.7% were at major risk of wildfires, and 12.8% faced a major risk of flooding. To make this information more accessible, Zillow plans to implement color-coded highlights on its search map. This feature will visually indicate areas at risk from the five key climate factors, with each risk represented by a distinct color, reflecting the potential severity of the threat.

Once the feature goes live, homeowners will have access to a dedicated climate risk section for each listing. This section will provide detailed information about current risks in a specific region or location, as well as forecasts for the severity of these risks in the future. By offering this valuable data, Zillow aims to help potential homeowners better understand the long-term costs associated with insurance for wind, fire, and flooding.

Zillow’s introduction of climate risk data marks a pivotal step in the real estate industry, equipping buyers with essential knowledge to make informed decisions in an era where climate change is increasingly impacting property values and insurance costs. This initiative not only promotes transparency but also empowers consumers to prioritize safety and sustainability in their home-buying journeys.