Railroad tracks are undercut by flooding in Longmont, Colo., on Thursday, Sept. 19, 2013.

(AP Photo/Ed Andrieski)

Climate change is starting to hit homeowners where it hurts by destabilizing property values.

Rising temperatures and sea levels have worsened existing flood plains over the years while also creating new ones. That means more homes are vulnerable to flooding, and houses at risk are sold for about 7 percent less than those outside flood plains. The nonprofit First Street Foundation estimates homes in eight coastal states have lost $14 billion in value in the last decade.

New research from CU Boulder and Penn State examines the effect of climate change on home prices. Lead researcher and Leeds School of Business professor Ryan Lewis talked to Colorado Matters about the study.