DataMarkets & Economy

Are homebuyers avoiding natural hazard risk zones?

Some people don't want to deal with a basement
  • Homes sales in the first six months of 2016 among the bottom-fifth of U.S. counties with the lowest natural hazard risk boosted 4.2 percent year-over-year, Attom says.
  • In the top-fifth of U.S. counties with the highest risk of natural hazards, sales improved just 1.9 percent year-over-year.
  • The median sales price for low-risk counties was $187,291 – 33 percent below the estimated average market value in high risk areas of $279,570.

Baton Rouge, Louisiana/IIP Photo Archive With news of climate change, increased coverage of natural disasters and a general fear of mother nature’s wrath, homebuyers seem to be getting savvier and straying from natural hazard risk zones. The Natural Hazard Housing Risk Index report from Attom Data Solutions reveals homes sales in the first six months of this year among the bottom-fifth of U.S. counties with the lowest natural hazard risk boosted 4.2 percent year-over-year. On the other hand, sales in the top-fifth of U.S. counties in the top natural hazards risk zones improved just 1.9 percent in the same period. “With natural beauty comes more natural hazard risk,” Attom Senior Vice President Daren Blomquist said. “This is a shift -- especially over the past year -- to see more demand for homes in the lower risk areas. I think that’s in part because homebuyers and investors as well are becoming more aware of the costs and risks associated with natural hazar...