For the first time, more than half of U.S. states require property sellers to tell potential buyers about the flood history and risk of their homes and commercial buildings.
A new analysis by the Natural Resources Defense Council shows that 28 states have flood disclosure requirements that it considers at least adequate. It’s an increase of eight states since 2018, when the NRDC did its first analysis of flood disclosure requirements.
The trend comes as climate change is causing increased flood damage and as research shows mounting danger of not telling homebuyers and renters about a property’s flood risk.
A December analysis by Fannie Mae found that most people who live in flood-prone areas don’t know their risk and don’t have insurance that covers flood damage.
