{"id":8391,"date":"2018-02-22T00:00:00","date_gmt":"2018-02-22T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/environmental-hazards-dont-quell-price-hikes\/"},"modified":"2018-02-22T00:00:00","modified_gmt":"2018-02-22T00:00:00","slug":"environmental-hazards-dont-quell-price-hikes","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/environmental-hazards-dont-quell-price-hikes\/","title":{"rendered":"Environmental Hazards Don\u2019t Quell Price Hikes"},"content":{"rendered":"

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Home prices in ZIP codes with the highest environmental hazard risk are appreciating at a faster pace than the overall housing<\/a> market in the past year and over the last decade, according to ATTOM Data Solutions\u2019 2017 Environmental Hazards Housing Risk Index.<\/p>\n

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EPA Definitions Used in the Study<\/strong><\/p>\n

Poor air quality:<\/strong>\u00a0Calculated by the average percentage of days without significant traces of carbon monoxide, fine particles, particulate matter, nitrogen dioxide, ozone, or sulfur dioxide in the air.<\/p>\n

Superfunds on national priorities list: <\/strong>The list of national priorities regarding releases or threatened releases of hazardous substances, pollutants, or contaminates.<\/p>\n

Brownfield site<\/strong>: This term applies to real property, the expansion, redevelopment, or reuse that can be complicated by the presence or potential threat of a hazardous substance, pollutant, or contaminant.<\/p>\n

Polluters<\/strong>: Toxic releases are restricted to industries that manufacture or process more than 25,000 pounds of a Toxic Release Inventory-listed chemical or otherwise uses more than 10,000 pounds of a listed<\/a> chemical in a given year.<\/p>\n<\/blockquote>\n

Researchers analyzed more than 8,600 ZIP codes in the U.S. looking for four environmental risks: Superfund sites, brownfields, polluters, and poor air quality. They found that median home prices in ZIP codes in the top environmental hazard risk category rose 7.4 percent from a year ago on average, compared to a 7.1 percent increase nationwide. From 2007, these high-risk areas have seen prices increase 22.2 percent from a decade ago compared to a 12.3 percent increase nationwide.<\/p>\n

\u201cWith housing inventory in short supply, even homes in higher-risk ZIP codes for environmental hazards are in high demand from buyers looking for lower-priced properties and investors looking for the next up-and-coming neighborhood,\u201d says Daren Blomquist, senior vice president at ATTOM Data Solutions. \u201cBuyer demand does seem to have a bit of a limit when it comes to environmental hazards, however. Homes in ZIP codes with Superfund sites on the EPA\u2019s national priority list have seen weaker home price<\/a> appreciation and have higher foreclosure<\/a> rates than the overall housing market.\u201d<\/p>\n

View the following chart for the 10 ZIP codes with the highest total environmental hazard risk in 2017, according to ATTOM Data Solutions.<\/p>\n

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