Solving the Post-Close Challenge with Intelligent Automation

Join our upcoming webinar as SoftWorks AI CEO and Avanze CEO explore the advances in tech that allow for greater levels of automation and cost reduction, especially in support of post-close and pre-fund review.

Spruce’s Patrick Burns on innovation in title technology

In the season finale of Housing News season 5, Spruce CEO discusses heightened investor interest in title tech, innovation and fintech adoption.

The 100-years-war over real estate commissions

HousingWire plunges down the rabbit hole of residential real estate commissions, uncovering the past, present and future of this wholly unique part of the economy.

How borrower education can make housing more attainable

The current housing market is making it difficult for prospective buyers to afford a home. Housing professionals need to find ways to better meet buyer needs.

Politics & MoneyReal Estate

Realtor.com: About $1.7 trillion of U.S. homes are in DorianÕ new path

The hurricane’s northward shift has put an additional $220 billion of residential real estate in danger

Hurricane Dorian seems determined to set its own path. The storm stalled over the Bahamas as a Category 5, devastating the island chain, and has now shifted north. Instead of making landfall in Florida, the National Hurricane Center said it expects Dorian to scrape the U.S. southeast coast.

That change has put an additional $220 billion of residential real estate in danger. The hurricane shifted between Category 2 and Category 3 during Wednesday night and Thursday morning. By Friday at 8 a.m. it should be off North Carolina’s Outer Banks as a Category 2 storm with sustained winds of 100 miles an hour, according to government forecasts.

“Hurricane Dorian’s change in direction has shifted the risk spotlight toward a broader residential real estate path, encompassing $1.7 trillion this week, up from a projected $1.5 trillion when it was expected to make landfall along the Florida coast,” said George Ratiu, a senior economist for realtor.com. “While the storm intensity has been downgraded, it remains a serious threat.”

Dorian now is expected to skirt Florida’s east coast and head up toward the Carolinas where it has the potential to impact 21 coastal metros totaling 6.6 million households, realtor.com estimated. That’s $1.72 trillion worth of residential real estate, up from $1.5 trillion the real estate website estimated last week when Dorian was expected to make landfall in Florida.

“We expect to see a significant disruption to national home sales and construction if the storm continues on its current trajectory,” Ratiu said. “At a state level, we could see broad economic impacts as extensive property damage could add pressure to already limited housing inventory conditions in Florida and the Carolinas. With mandatory evacuations already in place, several coastal markets have already experienced a decline in tourism and hotel demand.”

Most Popular Articles

Biden’s $15K first-time homebuyer tax credit now a bill

President Joe Biden called for a $15,000 tax credit for first-time homebuyers, and Congress has answered his call with a bill.

Apr 26, 2021 By

Latest Articles

What a dismal jobs report means for the housing market

April’s U.S. jobs report on Friday was dismal at just 266,000 new jobs, but economists say they’re not worried about the housing or mortgage market. HW+ Premium Content

May 07, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please