Hurricane Arthur on track to wreak $35M in residential property damage
CoreLogic forecasts worst-case scenario for Independence Day destruction
CoreLogic (CLGX) has completed a preliminary estimate of the worst-case residential damage that could be caused by Hurricane Arthur if it continues on its current track.
The data shows the potential exposure to residential property damage from hurricane-driven storm-surge flooding as Hurricane Arthur makes its way toward the U.S. Atlantic Coast.
"On its current forecasted track, Arthur is aiming for the Carolinas on a projected path along the East Coast and will likely make landfall today," said Tom Jeffery, senior hazard scientist for CoreLogic Spatial Solutions. "It's unfortunate that the first official hurricane of the season is happening on such a big holiday weekend, and residents are advised to be aware and take watches and warnings seriously.
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“Although Arthur is classified as a Category 1 storm, strong winds, heavy rain and rip currents caused by storm surge may have far-reaching effects into New England and even Canada," Jeffery said.
The data shows 163,274 total residential properties with a reconstruction value of $35,734,348,993 are in the area currently known as the "cone of uncertainty" and at risk of potential storm-surge damage, assuming the storm hits the coast as a Category 1 hurricane.
Total number and total reconstruction value of residential properties by projected affected by CBSA are:
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