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

21:27:46

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

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California

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

Acres Burned in California vs. YearAcres Burned201020112012201320142015201620172018201920202021
YearAcres Burned
2010188,813
2011131,198
2012746,610
2013602,557
2014555,044
2015880,268
20161,381,405
20171,548,429
20181,975,086
2019259,823
20204,397,809
20212,278,171
Acres Burned

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.