It seems this summer has been filled with devastating natural disasters, like the California wildfires and Louisiana floods. But according to Realtor.com's Clare Trapasso, home prices in some of the most disaster-prone counties appreciated at higher rates over the past year: 6.5% compared with just 3.2% in safer counties.
However, according to a report from ATTOM Data Solutions, buyers, perhaps deterred by both the threats as well as potentially higher prices in these often heavily populated, coastal communities, bought more homes in more secure counties. And over longer periods of time, property appreciation in the safer counties rose 9.5% over the past 10 years compared with just 1.9% in the most dangerous areas.
“Demand from home buyers and investors is shifting from the glamour markets with lots of natural beauty—and a corresponding high level of natural hazard risk—to the more plain vanilla markets with less natural beauty but also less natural hazard risk,” ATTOM’s senior vice president, Daren Blomquist, said in a statement. “Buyers and investors are more aware now than they were during the last housing boom of natural hazard risk and how that can cost them in terms of insurance. … [They’ve also] been priced out of the glamour markets.”
Realtor.com pinpointed the safest and most dangerous counties for natural disasters:
5 riskiest counties for natural disasters:
5 safest counties for natural disasters: