Residential Real Estate News
Hurricane Hillary Put 1.55 Million U.S. Homes at Elevated Flood Risk This Week
As Tropical Storm Hilary now substantially weakens this week, real estate data provider CoreLogic estimates that approximately 1,553,803 residential homes in the western U.S. were at an elevated risk of inland riverine flooding over the last few days. This includes both single- and multifamily residential properties. The majority of residential homes are in California.
CoreLogic says not all properties listed above sustain damage. The number of damaged properties will be a subset of the total 1,553,803 buildings, which is still not fully determined as of today. The property counts represent all single- and multifamily residential properties with a Flood Risk Score Rating of moderate or greater that were exposed to at least one inch of rain in a 24-hour period.
This amount of rainfall could be significant, especially in arid regions of the southwestern U.S. Flash flooding in urban and desert environments is likely due to quick and intense rainfall. The above property counts do not include homes at risk of flash flooding.
Hurricane Hilary initially made landfall over the northern Baja California peninsula on Sunday, Aug. 20 at 11:00 a.m. local time as a Category 1 storm with maximum sustained wind speeds of 65 mph (100 km/h).
