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ATTOM has added a vital new category to its ever-expanding ATTOM Table of Data Elements — climate risk data. The new addition of this data offers comprehensive risk assessment for every property nationwide.
ATTOM’s climate change risk solution includes ratings at the property level for five climate change hazards
— wildfire, flood, heat, storm and drought. Every property is assessed with a 0 to 100 rating for each climate change risk listed above, and the ratings are compared to all properties nationwide. The risk assessment rating can help determine a property's climate change-related hazards with projections going as far out as 2050. That is a period within the lifespan of a 30-year mortgage signed today.
“Our mission at ATTOM is to increase real estate transparency and fuel innovation,” said Todd Teta, chief product and technology officer at ATTOM. “We continue to expand our data footprint to help our customers solve the additional challenges this housing market presents. With the addition of this new data product, clients will be able to better mitigate risk, streamline decision making and gain deeper intelligence on the housing market."
Customers can also use ATTOM’s climate change risk assessment to evaluate properties for investment decisions. Additional uses also include determining a property's projected climate risk when insuring a home; identify risk exposure for reinsurance decisions; screen individual assets to avoid high risk assets; and understand how climate change increases operating expenses.
"Understanding current and future climate change risk has become a very important data point for many of our customers in real estate, mortgage and insurance industries," says Sean Mooney, vice president of product at ATTOM. "So, it makes perfect sense for us to offer it as a new solution tied into our robust property database."