Around seven million homes are at risk of hurricane damage along the Atlantic and Gulf coasts, according to a new report released by CoreLogic. Despite the volume of at-risk homes, the percentage is lower than that of previous years. Authors of the study, meanwhile, recommend better techniques to assess home elevation.
Still, real estate experts warn residents to take extra precaution in securing their homes, particularly as the country enters hurricane season. Many weather bureau officials have stated that global warming, along with rising sea levels, should drive expectation of bigger and stronger storms. Florida has 2.7 million homes at risk, earning it the number one spot on the list of most at-risk states. It is followed by Louisiana, Texas, and New Jersey.
Homeowners are being cautioned about purchasing property along the coast. This, however, has had little impact on coastal housing sales. Recent data have shown that the market for beach-front homes and coastal housing has increased in the last year. This can be attributed to extremely low mortgage rates around these areas and the dramatic price increase in the cities.
Real estate agents and potential homeowners are banking on history. A lot of these reports have claimed potential risks, although hurricanes within the areas have been weak, if not absent, for the last few years. Weather officials still caution that this season could be devastating, pointing out that the environment has been more active for the last 30 years.
Risks or none, potential homebuyers have flocked to these states and are more than willing to buy properties along these areas.
Learn the latest real estate news by following this Jon Bourbeau Twitter page.
Still, real estate experts warn residents to take extra precaution in securing their homes, particularly as the country enters hurricane season. Many weather bureau officials have stated that global warming, along with rising sea levels, should drive expectation of bigger and stronger storms. Florida has 2.7 million homes at risk, earning it the number one spot on the list of most at-risk states. It is followed by Louisiana, Texas, and New Jersey.
Image Source: bestwesternflorida.com
Homeowners are being cautioned about purchasing property along the coast. This, however, has had little impact on coastal housing sales. Recent data have shown that the market for beach-front homes and coastal housing has increased in the last year. This can be attributed to extremely low mortgage rates around these areas and the dramatic price increase in the cities.
Real estate agents and potential homeowners are banking on history. A lot of these reports have claimed potential risks, although hurricanes within the areas have been weak, if not absent, for the last few years. Weather officials still caution that this season could be devastating, pointing out that the environment has been more active for the last 30 years.
Image Source: orlandosentinel.com
Risks or none, potential homebuyers have flocked to these states and are more than willing to buy properties along these areas.
Learn the latest real estate news by following this Jon Bourbeau Twitter page.
