Three in four recent homebuyers report that concern over the threat of natural disasters impacts their housing decisions, according to new Realtor.com® survey
In recognition of September's National Preparedness Month, Realtor.com® announces donation to disaster relief foundation
PR Newswire
SANTA CLARA, Calif. , Sept. 27, 2021 /PRNewswire/ -- September marks National Preparedness Month, a time when Americans are reminded and encouraged to take steps to prepare for emergencies. For many people, a home is their largest asset and as natural disasters become more common, keeping it and themselves safe is an increasing concern. A new survey from Realtor.com ® found that 78% of recent home buyers took natural disasters into account when choosing the location of their new home.
The survey of 3,026 consumers, which was conducted online by HarrisX in July 2021 , found that 62% of homeowners are concerned about the threat of natural disasters, and that number was even higher for recent home buyers (75%) and among millennials (72%).
Natural disasters that are most concerning to homeowners include: tornadoes (39%), severe cold or winter storms (38%), floods (35%), hurricanes (29%), earthquakes (21%), wildfires (17%), droughts (11%) and sinkholes (8%). Homeowners in rural and suburban communities were most concerned about tornadoes and severe cold/winter storms, while flooding was a top concern for those in urban areas.
"Natural disasters can have enormous impacts on communities and homeowners, and with increased frequency and intensity of weather-related events, National Preparedness Month is a good reminder of how important it is to be prepared," said Realtor.com® Chief Marketing Officer Mickey Neuberger . "Our mission is to help bring people home, but it's also about helping people when their home is damaged or lost after disaster strikes, which is why Realtor.com ® recently made a $200,000 commitment to help aid in disaster response efforts."
With natural disasters becoming more frequent and severe, nearly half (47%) of consumers are more concerned today about the threat of natural disasters to homeownership compared to five years ago; 44% said their level of concern is unchanged and only 9% feel less concerned.
For some, the threat of future natural disasters could impact their decision about whether to move or sell their home. One-third (34%) of surveyed consumers would consider proactively selling their home, moving or both to avoid future natural disasters, while 66% said they aren't considering either.
To help buyers make good home buying decisions and increase awareness about a home's flood risks, which are among the most common and costly disasters in the U.S., Realtor.com ® was the first listing portal to include flood risk information on for-sale and off-market properties. As of August 2020 , all properties on Realtor.com ® now display a Flood Factor ® – developed by the First Street Foundation – with a score between one (minimal risk) and 10 (extreme risk) that represents its cumulative risk of flooding over a traditional 30-year mortgage.
Over the past year, site users have viewed flood information on Realtor.com ® more than 150 million times. The feature is heavily viewed on properties in hurricane-prone states like Florida and Texas , as well as in states all along the eastern seaboard.
While being prepared can't prevent a disaster it can help homeowners recover faster; when asked how prepared they were for a natural disaster specific to their area, two thirds (68%) of surveyed consumers said they were very or somewhat prepared and less than one third (32%) said they were only somewhat or very unprepared.
To bring help and hope to those who are impacted by natural disasters, Realtor.com ® has donated $200,000 to the REALTORS ® Relief Foundation, a charitable organization dedicated to providing housing-related assistance to victims of disasters. The REALTORS ® Relief Foundation, is administered by the National Association of REALTORS ® , which covers 100 percent of RRF's administrative costs so that every dollar donated goes directly to disaster relief efforts.
Methodology: Realtor.com ® commissioned HarrisX to conduct a national survey of consumers. The total sample size was 3,026 adults. The survey was carried out online from July 21-23, 2021 . The sampling margin of error of this poll is ±1.8 percentage points. The figures represent a national view of U.S. adults. Results were weighted for age, gender, region, race/ethnicity, and income where necessary to align them with their actual proportions in the population.
About Realtor.com ®
Realtor.com ® makes buying, selling, renting and living in homes easier and more rewarding for everyone. Realtor.com ® pioneered the world of digital real estate more than 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, Realtor.com ® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, Realtor.com ® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com ® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit Realtor.com ® .
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SOURCE Realtor.com