Servicers Take Note: 4 Million Homes Face Hurricane Risk

Warehouse

The approaching hurricane season could damage roughly four million residential properties whose estimated value exceeds $700 billion, according to a new report from vendor CoreLogic.

More than half of those “at risk of hurricane-driven storm-surge damage” properties are located along the Atlantic Coast, the firm said.

Experts warn that changing weather patterns indicate high hurricane risk is no longer limited to traditionally impacted states like Florida, Texas and Louisiana.

The report finds that approximately 2.2 million homes located on or near the Atlantic Coast are at risk. These homes are valued at roughly $500 billion. By comparison, 1.8 million homes on or near the Gulf—and valued at $200 billion—are at risk.

 

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