Climate Risk Scores are Back: A California Expert's Quest to Restore Transparency in Real Estate.
In a move that has left many homebuyers feeling less informed, the nation's leading real estate website Zillow recently removed climate risk scores from its listings. The data, which showed exposure to floods, fires, and extreme heat, was pulled after the state's real estate brokers questioned the accuracy of the flood models used by First Street, a company that provides climate risk data to Zillow.
Enter Neil Matouka, a climate policy expert in California who has been working to put data back in the hands of homebuyers. Matouka, who previously managed the development and launch of the state's Fifth Climate Change Assessment, is developing a proof-of-concept plugin that provides climate data to Californians in place of what Zillow has removed.
The plugin, which is still undergoing beta testing, displays data on wildfire and flood risk, sea level rise, and extreme heat exposure when users view California Zillow listings. According to Matouka, the goal of his project is "not perfect data" but rather publicly available information that helps people understand risk.
While Zillow removed its climate risk data in response to pressure from the state's real estate brokers, other sites like Homes.com and Realtor.com continue to show First Street's climate data. However, experts have noted that the removal of this data can be misleading or unfair to homebuyers.
"It doesn't suddenly become inconvenient," said Matouka. "It becomes harder to ignore in a stressed market."
As for why Zillow removed its climate risk data, company representatives say they updated their product experience to adhere to varying MLS requirements and maintain a consistent user experience.
But experts disagree that this is an excuse for removing critical information from homebuyers. According to Chris Field, director of the Stanford Woods Institute for the Environment, "The more detailed you get, the less precise your projections are." Matouka's plugin aims to strike this balance by providing users with a general overview of climate risk in their area.
While private data companies like First Street present challenges due to their reluctance to share methods, experts emphasize that both public and private data sources can provide valuable insights for homebuyers. As Jesse Gourevitch, an economist at the Environmental Defense Fund, noted, "People who are making decisions involving risk benefit from exposure to as many credible estimates as possible."
As Matouka's plugin continues to develop, it remains to be seen whether this effort will lead to greater transparency in real estate listings and better protection for homebuyers.
In a move that has left many homebuyers feeling less informed, the nation's leading real estate website Zillow recently removed climate risk scores from its listings. The data, which showed exposure to floods, fires, and extreme heat, was pulled after the state's real estate brokers questioned the accuracy of the flood models used by First Street, a company that provides climate risk data to Zillow.
Enter Neil Matouka, a climate policy expert in California who has been working to put data back in the hands of homebuyers. Matouka, who previously managed the development and launch of the state's Fifth Climate Change Assessment, is developing a proof-of-concept plugin that provides climate data to Californians in place of what Zillow has removed.
The plugin, which is still undergoing beta testing, displays data on wildfire and flood risk, sea level rise, and extreme heat exposure when users view California Zillow listings. According to Matouka, the goal of his project is "not perfect data" but rather publicly available information that helps people understand risk.
While Zillow removed its climate risk data in response to pressure from the state's real estate brokers, other sites like Homes.com and Realtor.com continue to show First Street's climate data. However, experts have noted that the removal of this data can be misleading or unfair to homebuyers.
"It doesn't suddenly become inconvenient," said Matouka. "It becomes harder to ignore in a stressed market."
As for why Zillow removed its climate risk data, company representatives say they updated their product experience to adhere to varying MLS requirements and maintain a consistent user experience.
But experts disagree that this is an excuse for removing critical information from homebuyers. According to Chris Field, director of the Stanford Woods Institute for the Environment, "The more detailed you get, the less precise your projections are." Matouka's plugin aims to strike this balance by providing users with a general overview of climate risk in their area.
While private data companies like First Street present challenges due to their reluctance to share methods, experts emphasize that both public and private data sources can provide valuable insights for homebuyers. As Jesse Gourevitch, an economist at the Environmental Defense Fund, noted, "People who are making decisions involving risk benefit from exposure to as many credible estimates as possible."
As Matouka's plugin continues to develop, it remains to be seen whether this effort will lead to greater transparency in real estate listings and better protection for homebuyers.