Zillow has introduced a new tool that allows prospective homebuyers to see potential climate risks in the areas of their housing search.
Transcript:
Conway Gittens: Here’s what we’re watching on TheStreet today.
A tame inflation report bolstered Wall Street’s view that this economy is set up for more interest rate cuts.
Investors will get fresh clues on the economy in the coming week with the release of the all-important monthly jobs report. Federal Reserve Chairman Jerome Powell might provide some insight in a speech. And, there will be monthly updates on the factory and services sector. Meanwhile, on the corporate front, Nike posts its first quarterly results since announcing a new CEO.
In other news – as home buyers continue to grapple with high interest rates and low inventory, Zillow is introducing a new feature to try and alleviate some of the stress that comes with purchasing a home.
Zillow’s new climate risk tool will provide information about potential hazards – like floods, fires, and air quality. According to Zillow, “On for-sale listings, buyers will find a climate risk section that provides property-specific data. Each section shows how a specific risk might impact the home now and in the future, while also offering information on insurance requirements.”
Zillow has partnered with First Street, a company which specializes in climate risk financial modeling, in order to provide information to its user base. The hope is to provide a more accurate picture of what buyers will pay, taking into account things like flood insurance, when buying a home.
Zillow claims 80% of prospective home buyers now consider climate risks when choosing where they will live.
That’ll do it for your Daily Briefing. From New York, I’m Conway Gittens with TheStreet.
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