Some types of residences are more likely to see a decline in value in 2024 as the real estate market continues to change.
Changes in buyer tastes, environmental policy, and economic situations are just a few of the variables that may have an impact on this trend.
Homes located in regions prone to climate-related disasters, such as coastal areas susceptible to hurricanes, flood zones, and regions at high risk of wildfires, could see a significant drop in value.
Customers are more aware of the risks and should proceed with caution because of the rising frequency and intensity of climate-related disasters.
In several circumstances, insurance companies are completely removing coverage due to the growing expense of insurance in certain areas.
Due to this, buyers find these areas' properties less appealing, which lowers demand and, as a result, lowers property values.
Due to this, buyers find these areas' properties less appealing, which lowers demand and, as a result, lowers property values.
Homes in these areas are often subject to poor air quality, noise pollution, and other environmental hazards, making them less desirable
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