Rising From the Ashes: How Will the Wine Country Wildfires Affect Its Housing Markets?

By October 20, 2017Bay Area Real Estate

Executive Summary:

  • The Wine Country wildfires are estimated to have destroyed about 2,800 homes so far, or about 5 percent of Santa Rosa’s housing stock.
  • The current property damage approaches $4 billion.
  • With rents and home prices already growing robustly, there will be further pressure on prices given the region’s already tight inventory.
  • City and county building permit processes will be key to the Wine Country’s recovery.
  • An attitude of optimism anticipates the rebuilding process.

Unfortunately, wildfires are a harsh reality of living in California, especially during the month of October. Thousands of fires burn throughout the state every year, but October seems to be the deadliest. Historically, six of California’s seven most destructive wildfires have happened in October.

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