How does climate change influence real estate prices and availability?

Climate change affects real estate prices and availability by increasing risks related to natural disasters, like floods, wildfires, and hurricanes. Properties in areas vulnerable to these risks may see lower demand and reduced prices as buyers seek safer locations. In flood-prone or coastal areas, rising sea levels and stronger storms can lead to higher insurance costs or even uninsurability, making homes less affordable. On the flip side, regions less prone to climate-related events may experience higher demand as people relocate to safer, more resilient areas. Additionally, the cost of adapting or retrofitting homes to meet new climate standards can influence property prices and availability, with eco-friendly or disaster-resistant homes becoming more desirable.