Florence Damage Estimated Up to $30B

Sep 25, 2018

Hurricane Florence is history, but the property damage left behind is being estimated at between $20 billion and $30 billion, according to data from CoreLogic.

Flood loss for residential and commercial properties in North Carolina, South Carolina and Virginia is estimated between $19 billion and $28.5 billion—this includes storm surge and inland flooding. Wind losses are estimated to be an additional $1 billion to $1.5 billion. This analysis includes residential homes and commercial properties, including contents and business interruption

In a separate analysis, CoreLogic is estimated that uninsured flood loss for the region to be between $13 billion and $18.5 billion, while insured flood loss from private insurers is estimated at less than $5 billion, while the insured flood loss covered by the National Flood Insurance Program (NFIP) is estimated to be between $2 billion and $5 billion. A total of 445,000 total residential and commercial NFIP property policies were in place in the three states impacted by the hurricane.

About the author

Phil Hall

Link copied

Published

Sep 25, 2018

Analysis and Data

Homeownership Slips Further Away For Californians

Only 18% of Californians could afford a median-priced home in 2024, with affordability gaps persisting across ethnic groups

Buying a home in California became even harder across all ethnic groups last year, as surging mortgage costs pushed affordability further out of reach, according to the California Association of Realtors (C.A.R.). Only 18% of Californians earned enough to purchase the sta...

Analysis and Data

Mr. Cooper Shrinks Originations But Strengthens Borrower Retention Ahead Of Rocket Merger

Loan production fell 10% in Q1, but purchase share climbed and borrower recapture hit 51% amid broader strategic realignment

Mr. Cooper Group reported first-quarter 2025 results that reflect a mixed environment for mortgage production and servicing, as the company emphasized operational stability and strategic expansion despite a slowdown in origination volume. Loan Production Mr. Cooper fun...