US EditionThe Real Estate Industry Is Pressuring Zillow and Other Sites to Nix Extreme Weather Risk Data Buyers Have Come to Rely on | News Channel 3-12
Zillow removed climate risk scores from over 1 million listings after agents said scores hurt sales; scores remain on other sites despite data defended by First Street.
- Last month, Zillow removed visible climate risk scores from more than 1 million listings after agents said the information cost them sales, replacing the scores with a subtle link to First Street records.
- Real estate agents raised objections that the scores were costing them sales, a pattern since launch, while the California Regional Multiple Listing Service and CEO Art Carter argued flood probabilities reduce desirability.
- First Street defended its data and methodology, warning buyers make major purchases 'while flying blind' without clear risk data and noting its peer-reviewed models and $50 million funding from PitchBook.
- Zillow had noted that more than 80% of buyers consider climate risks, yet agents’ objections mean consumers now face one more hoop to access that information, while investors, insurers, and cities likely keep using private data.
- Official hazard maps have been criticized in recent years for underestimating risk, and a Louisiana State University analysis found nearly twice as many properties at 1% flood risk than Federal Emergency Management Agency flood maps list.
19 Articles
19 Articles
The real estate industry is pressuring Zillow and other sites to nix extreme weather risk data buyers have come to rely on
Zillow, the nation’s largest real estate listing website, has removed extreme weather risk data meant to help buyers figure out if the biggest purchase of their life is particularly susceptible to floods, high winds or wildfires. Now, other major real estate listing websites are facing pressure to do the same.
Zillow Quietly Removes Climate Risk Scores From Listings
Just over a year after launching its climate risk feature, Zillow has quietly removed its Climate Risk Scores directly from the platform’s listings, and now instead directs users to First Street’s website—which Zillow called “the standard for climate risk financial modeling”—where they can individually access risk assessments for flood, wildfire, wind, heat and air quality… The post Zillow Quietly Removes Climate Risk Scores From Listings appear…
Coverage Details
Bias Distribution
- 43% of the sources lean Left, 43% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
