Article by Claire Brown: “Zillow, the country’s largest real estate listings site, has quietly removed a feature that showed the risks from extreme weather for more than one million home sale listings on its site.
The website began publishing climate risk ratings last year using data from the risk-modeling company First Street. The scores aimed to quantify each home’s risk from floods, wildfires, wind, extreme heat and poor air quality.
But real estate agents complained they hurt sales. Some homeowners protested the scores and found there was no way to challenge the ratings.
Earlier this month Zillow stopped displaying the scores after complaints from the California Regional Multiple Listing Service, which operates a private database funded by real estate brokers and agents. Zillow relies on that listing service and others around the country for its real estate data. The California listing service, one of the largest in the country, raised concerns about the accuracy of First Street’s flood risk models.“Displaying the probability of a specific home flooding this year or within the next five years can have a significant impact on the perceived desirability of that property,” said Art Carter, California Regional Multiple Listing Service’s chief executive officer.
In a statement, Zillow spokeswoman Claire Carroll said the company remains committed to providing consumers with information that helps them make informed decisions. Real estate listings on Zillow now display hyperlinks to First Street’s website, and users can click through to view climate risk scores for a specific property.
The development highlights a growing tension within the real estate industry. Fires, floods and other disasters are posing more risks to homes as the planet warms, but forecasting exactly which houses are most vulnerable — and might sell for less — has proved fraught.
First Street models have shown that millions more properties are at risk of flooding than government estimates suggest.
Other real estate sites, including Redfin, Realtor.com and Homes.com, display similar First Street data alongside ratings for factors like walkability, public transportation and school quality…(More)”.
