{"id":795050,"date":"2024-12-16T08:33:13","date_gmt":"2024-12-16T13:33:13","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-older-americans-are-more-likely-to-buy-disaster-prone-homes-than-younger-americans\/"},"modified":"2024-12-16T08:33:13","modified_gmt":"2024-12-16T13:33:13","slug":"redfin-reports-older-americans-are-more-likely-to-buy-disaster-prone-homes-than-younger-americans","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-older-americans-are-more-likely-to-buy-disaster-prone-homes-than-younger-americans\/","title":{"rendered":"Redfin Reports Older Americans Are More Likely to Buy Disaster-Prone Homes Than Younger Americans"},"content":{"rendered":"

<\/p>\n

Redfin Reports Older Americans Are More Likely to Buy Disaster-Prone Homes Than Younger Americans<\/b><\/p>\n

37% of home purchases made by people 65+ occur in counties with high risk of extreme heat, compared with 32% of purchases made by people under 35, and the same trend holds true for flood and fire risk<\/i><\/p>\n

SEATTLE–(BUSINESS WIRE<\/a>)–
\n(NASDAQ: RDFN) \u2014 Older Americans are more likely than younger Americans to buy homes in places with significant climate risk, according to a new report<\/a> from Redfin (redfin.com<\/a>), the technology-powered real estate brokerage. Over one-third (36.9%) of home purchases made by people 65 and older last year were in counties with high risk of extreme heat, compared with less than one-third (32.3%) of home purchases made by people under 35.<\/p>\n

\nThe trend holds true for flood and fire risk; 13.3% of purchases made by people 65+ were in counties with high risk of flooding, compared with 9.8% of purchases by those under 35. And 3.7% of purchases made by people 65+ were in counties with high fire risk, compared with 2.6% of purchases by people under 35.<\/p>\n\n\n\n\n\n\n\n
\n

Share of home purchases, by age, made in counties at high risk of extreme heat, flood, and\/or fire: 2023<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

<35<\/b><\/p>\n<\/td>\n

\n

35-44<\/b><\/p>\n<\/td>\n

\n

45-54<\/b><\/p>\n<\/td>\n

\n

55-64<\/b><\/p>\n<\/td>\n

\n

65+<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Extreme heat<\/b><\/p>\n<\/td>\n

\n

\n32.3%<\/p>\n<\/td>\n

\n

\n35.2%<\/p>\n<\/td>\n

\n

\n36.8%<\/p>\n<\/td>\n

\n

\n37.7%<\/p>\n<\/td>\n

\n

\n36.9%<\/p>\n<\/td>\n<\/tr>\n

\n

Flood<\/b><\/p>\n<\/td>\n

\n

\n9.8%<\/p>\n<\/td>\n

\n

\n10.7%<\/p>\n<\/td>\n

\n

\n11.8%<\/p>\n<\/td>\n

\n

\n13.4%<\/p>\n<\/td>\n

\n

\n13.3%<\/p>\n<\/td>\n<\/tr>\n

\n

Fire<\/b><\/p>\n<\/td>\n

\n

\n2.6%<\/p>\n<\/td>\n

\n

\n2.6%<\/p>\n<\/td>\n

\n

\n2.9%<\/p>\n<\/td>\n

\n

\n3.3%<\/p>\n<\/td>\n

\n

\n3.7%<\/p>\n<\/td>\n<\/tr>\n

\n

Two or more of the above<\/b><\/p>\n<\/td>\n

\n

\n8.3%<\/p>\n<\/td>\n

\n

\n9.1%<\/p>\n<\/td>\n

\n

\n10.2%<\/p>\n<\/td>\n

\n

\n11.8%<\/p>\n<\/td>\n

\n

\n11.8%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

There are a few reasons older Americans are more likely than younger Americans to buy homes in risky areas:<\/b><\/p>\n