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new Redfin report reveals that older Americans are more likely to buy homes in areas with significant climate risk compared to younger buyers. Last year, 36.9% of home purchases by people aged 65 and older were in counties with high extreme heat risk, while only 32.3% of those under 35 made similar purchases.

    This trend also applies to flood and fire risks: 13.3% of purchases by people 65+ were in high-risk counties for floods, compared to 9.8% among younger buyers; and 3.7% of purchases by people 65+ were in high-risk areas for fires, compared to 2.6% among younger buyers.

    According to Rafael Corrales, a Redfin Premier real estate agent in Miami, many retirees prioritize the benefits of living in areas with climate risks over the potential downsides. "Buyers increasingly inquire about insurance costs and sometimes request sellers share their broker's contact information if rates are favorable," he noted.

    Income level also plays a role, but older buyers across all income brackets remain more likely to move to risky areas. In counties where buyers 65+ accounted for the largest share of mortgages last year:

    * 96.2% of homes face high heat risk

    * 24.6% of homes face high flood risk

    * 35.7% face high fire risk

    These figures are significantly higher than in counties where buyers under 35 dominate.

    Desirable retirement hotspots, such as Florida and Arizona, often overlap with areas prone to extreme climate risks like hurricanes, rising sea levels, drought, and extreme heat. However, these areas also offer attractive features like sunny weather and coastal appeal, making them appealing to retirees despite the risks.