Climate Alpha Launches HOMES, Pricing the Future Costs of Climate Change for Homeowners and Buyers
Climate Alpha launches HOMES, a free tool pricing the impacts of climate change into the future value of more than 100 million American homes. Applying its proprietary Resilience Index™ that covers more than 30,000 US ZIP codes, HOMES forecasts financial gains or losses due to climate change between now and 2040. For the first time, homebuyers and sellers can see and compare the true price of ownership once climate is factored in.
Climate change is already a real and growing concern for American homeowners — 64% cite it as a reason to move from their current communities, and 62% say they are reluctant to move somewhere at risk of natural disasters.
HOMES invites users to enter an address or ZIP code which calculates the projected median home value in that area for a given year. It then calculates the price impact due to climate change both in dollars and as a percentage of the home's total value. Users can compare the resilience of a given area against its surrounding county, state, or national price impact.
In addition to calculating a location's changing exposure to climate risks such as flood, storms, drought, heat and fire, HOMES also displays vulnerability scores related to poverty and infrastructure as well as readiness scores related to clean energy and public spending.
This unique combination of climate data and models with decades of market trends and socioeconomic variables, powered by Climate Alpha's AI-trained analytics suite, creates a more complete picture of where Americans will choose to move — and what homes they are most likely to buy — than any product currently on the market.
HOMES is free for homebuyers as part of Climate Alpha's mission to steer people and investment toward more resilient regions. Climate Alpha is also partnering with brokers, advisors, and fintech platforms to enhance their offerings with its Resilience Index™ data.
"Providing Americans with better analysis about the costs — and opportunities — of climate change is a first step toward preserving the American Dream for decades to come," says Dr. Parag Khanna, Climate Alpha's Founder & CEO.
To view the official Press Release, click here.