Report: Michigan real estate benefits from a lack of natural disasters
A new report says Michigan homes are at much lower risk of natural disasters than those in other parts of the country.
Realty Trac reports nearly half the homes in the U.S. are located in areas at high risk of wildfires, earthquakes, hurricanes and other natural disasters.
“By this definition, when we are looking through the prism of natural disaster risk, housing in Michigan looks pretty good,” says Daren Blomquist with realty Trac.
Unfortunately that doesn’t translate into higher values for Michigan homes.
Blomquist says homes in high-risk parts of the country are actually worth more than homes in "low-risk" zones, like Michigan.
That’s not to say all of Michigan is at low risk for natural disaster.
St. Joseph County is listed in the "very high risk" category. Blomquist says Realty Trac found the southwest Michigan county is at risk for tornados. Wayne, Jackson and Washtenaw counties all also rank in the "high risk" category.