Natural disasters

From consumers straying from certain cities to regulations dictating how homes are built, here’s a look at how climate change is shaping the housing market.

After two disastrous fire seasons, California officials have been besieged by homeowners in fire-prone areas complaining that their insurance premiums are skyrocketing or their plans are suddenly being dropped.

The percentage of Americans behind in their mortgage payments is at a 20-year low. And even fewer Dallas-area homeowners are late with payments than the national average, according to CoreLogic.

The majority of young adults and consumers in coastal housing markets claim climate change will affect their homes or communities, which could influence where they consider buying a house, according to Zillow.

The mortgage delinquency rate sits at its lowest point in over 20 years after descending annually for 17 straight months through May, according to CoreLogic. But a broader look at this year's figures could signal a shift in the narrative.

In the next 30 years, an estimated 802,555 homes worth $450 billion are under the risk of flooding, and in turn becoming distressed mortgages, according to a joint study by Zillow and Climate Central.

Removing Federal Housing Administration-insured mortgages with natural-disaster forbearance from the agency's delinquency tracking database would give investors a less-distorted view of loan performance, according to the Community Home Lenders Association.

Black Knight created a pair of tools for its MSP servicing system in order to help mortgage services identify loans in their portfolio tied to areas affected by natural disasters.

Members from states threatened by storms say their proposal is better for consumers than recent legislation passed by the House Financial Services Committee.

Damage related to flash flooding from Tropical Storm Barry has the potential to affect about 340,000 homes, according to CoreLogic. Reports estimate a worst-case total of $10 billion in reconstruction cost value.