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Super El Niño could expose housing vulnerabilities this winter
HousingWire reports that agents are urged to assess property-specific risks as impacts could range from California mudslides to Gulf Coast flooding and tornadoes.
HousingWire reports that a developing super El Niño could reshape housing market conditions this winter by exposing vulnerabilities across multiple U.S. regions.
The outlet cites projected impacts including atmospheric rivers and mudslides in California, flooding and tornadoes along the Gulf Coast, drought and wildfire risk in the Northwest, and sea-level temperature conditions described as at record elevations.
HousingWire also reports that even homes not directly damaged may see their marketability and values tested, based on comments from Howard Botts, chief scientist at Cotality, who said El Niño events occur on multi-year cycles.
HousingWire adds that Botts said the focus may remain on the West Coast, particularly California, because El Niños can shift wind patterns south and alter the jet stream.