Climate Impact: Home Prices Stagnate in Phoenix and Tampa Amid Extreme Weather

Doug McIntyre discusses the impact of climate change on home prices in Phoenix and Tampa. According to the Case-Shiller Price Index, home prices in the U.S. reached a record high in June, but the growth rate in Phoenix and Tampa lagged behind. McIntyre attributes this to extreme weather conditions—Phoenix’s intense heat and Tampa’s sweltering temperatures and hurricane risk—which may be deterring new residents. Additionally, rising insurance costs due to climate-related risks are making these areas less attractive. This stagnation in home prices could indicate that these once-booming cities are no longer growing as they once did.