Homebuyers are flocking to areas most exposed to extreme weather risk and pushing prices higher, JPMorgan says

• Homebuyers are still migrating into counties most-exposed to climate damage, JPMorgan said.
• It's causing home prices to rise roughly 40% more in those locations than in less risky areas.
• But the firm says rising insurance costs could eventually dampen demand.

Despite extreme weather events taking their toll on houses across the US, homebuyers are still flocking to the most at-risk regions. That's caused home prices in the riskiest areas to increase at a rate far exceeding safer locations, according to JPMorgan.

Since the turn of the century, home prices in counties most exposed to climate-related damage have jumped around 40% more on average than all others, strategists Alexander Wise and Jan Loeys wrote.