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Climate risk is reshaping home values as insurance coverage lags

HousingWire cites that only about 25% of EU climate catastrophe losses are insured, while summer wildfires affected more than 576,000 hectares across Europe and burned over 6.4 million acres in the U.S.

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Climate-related hazards are increasingly affecting where buyers shop and how they value homes, according to HousingWire, with higher exposure areas seeing more scrutiny on insurance, self-sufficiency, and resilient design.

The outlet points to wildfires across Europe and the U.S., noting communities evacuated in France, Spain, Greece, and Croatia, and reporting more than 576,000 hectares affected across Europe by mid-August, alongside U.S. wildfires that burned over 6.4 million acres during a severe season.

HousingWire says the shift goes beyond properties directly threatened by fires, as climate change is starting to influence not only where people want to live, but also how buyers determine a property’s worth.

The piece also highlights an insurance gap, saying that only about 25% of EU climate catastrophe losses are insured, with buyers factoring longer-term costs into pricing decisions.

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