Beachfront home buyers threatened by rapidly-growing flood risk

Whether its a vacation rental or a dream home, beach properties are increasingly threatened by climate change.

Despite a handful of homes swept out to sea in North Carolina this year, the demand for beachfront real estate hasn't slowed down.

Climate conversations with beachfront buyers are common, according to coastal real estate broker Levi Boyd.

"Every property has a different risk profile," says Boyd.

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One big question: "Is climate change as sea level rise is going to affect probably the biggest investment I'll ever make in my life?"

According to a Zillow analysis, homebuyers are paying more attention to flood risk -- but home values are getting more expensive faster in high-risk areas, which are rapidly changing.

"We are getting floods, and we're getting all sorts of natural disasters hitting in places that weren't expecting, those that weren't used to them," says UNC Wilmington professor Narcisa Pricope. "So we are shifting how we experience risk."

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Pricope works with remote sensing technology to map flood risk.

In a recent presentation to NC representatives and senators, she shared the daunting realities of flood risk that's spreading beyond the 100-year floodplain – and moving further inland.

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She says inland and compound flooding exacerbated by climate change are increasingly affecting communities considered minimal risk, leaving many residents unprepared and more than 70% uninsured.

"What we really need to do is better partnerships with between government agencies and academics and private private businesses and private industry to to tackle and address these complex problems," she says.

It's a race to keep up with a rapidly-changing risk landscape and minimize harm to homes and communities.

According to a recent analysis by Natural Resources Defense Council, North Carolina homeowners in flood-prone areas could suffer at least $35,000 in flood damage over the course of a 30-year mortgage.