Remote work has allowed many Americans to move to suburbs and rural areas, which are often more vulnerable.
“For a lot of pandemic-era homebuyers, what has felt much more urgent than avoiding fire danger is finding a home they can afford at a time when inventory is so low and prices are so high,” said Corey Keach, a Redfin real estate agent in the Boulder, Colorado area, where the Marshall Fire—the most destructive in the state’s history—destroyed more than 1,000 homes at the end of 2021.
Keach said, “I worked with a young family whose Louisville home burned down in the Marshall Fire. Afterwards, they moved to nearby Superior, where a lot of homes also burned down. They just wanted to get into their next home fast because they had already gone through the painstaking buying process in 2020 and were worried prices were going to skyrocket another 20%.
Another gauge of housing-market speed shows a similar trend: Nearly two-thirds of high-fire-risk homes sold within two weeks in April, compared with just 55.1% of low-risk homes. Prior to the pandemic, high- and low-risk homes had about the same likelihood of selling within two weeks.
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