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How have the rampant wildfires in California impacted the housing market?

12:21:8

Let's see how we tackled this challenge.

We analyzed the housing market in California after recent wildfires.

Here's what we found.

Bar Graph of Housing Price Appreciation vs. Distance from Fire in 2020

In the areas within the perimeters, home purchases declined by an average of 38% during the years after the blazes.

Line Graph of Acres Burned in California vs. Year

Year	Acres Burned
2010	188,813
2011	131,198
2012	746,610
2013	602,557
2014	555,044
2015	880,268
2016	1,381,405
2017	1,548,429
2018	1,975,086
2019	259,823
2020	4,397,809
2021	2,278,171

Decrease in California Home Sales (%) vs. Year

A new report from Redfin looks at home values three years following a wild fire. It found that in areas directly hit by a fire, home values increased 21%, but in areas outside of the fire zone, housing prices increased 33% during the same period.