How Extreme Weather Is Reshaping the Housing Market

Extreme weather events are no longer just temporary disruptions—they’re quietly reshaping housing markets across the country. From rising insurance costs to new risks for lenders and buyers, climate-driven events are changing what it really means to afford a home. Tim Lucas and Craig Berry explore how storms, flooding, wildfires, and power outages are impacting home values, insurance availability, and mortgage lending.In this episode you’ll learn:How extreme weather disrupts home sales and mortgages: Power outages, travel shutdowns, and infrastructure failures can stall closings and lending—even in a remote-work world.How widespread climate risk really is: About 18% of homes face hurricane risk, 6% face flooding, and another 6% are exposed to wildfire threats.Why insurance is becoming unaffordable: In markets like Miami, insurance premiums can exceed $22,000 per year—effectively acting as a second mortgage.Where coverage is disappearing: In some high-risk wildfire zones, homeowners can no longer obtain private insurance at any price.Why lenders are rethinking risk: Mortgage decisions increasingly factor in long-term climate exposure—not just credit scores and income.What buyers should do now: Reviewing flood maps, weather history, and insurance quotes before making an offer is becoming essential.Read the full article: https://www.mortgageresearch.com/articles/how-extreme-weather-affects-mortgages-insurance-home-values/