Choosing a home to buy can be difficult enough without trying to assess how likely it is that the property will be hit by a natural disaster. To some extent, it’s impossible to say. But while buyers may tend to focus more on a home’s features and amenities, a new report from the National Association of Realtors’ consumer website says they shouldn’t underestimate potential hazards. In fact, the analysis found 26 percent of U.S. homes can be considered vulnerable to flooding, wildfire, or hurricane winds. That represents $12.7 trillion in real-estate value. Danielle Hale, the website’s chief economist, says buyers tend to downplay the risks. “In many markets, the gap between perceived risk and actual risk is sizable, particularly for flooding,” Hale said. “This has significant consequences for homeowners, buyers, and insurers, and it underscores the need for readily available data to help households make informed decisions.” (source)
