Hurricane Michael Damage to Homes Estimated at More than $165 Million
Seattle -- A new analysis from Porch found homeowners in the path of Hurricane Michael can expect to pay $2,8961 in costs to repair their home after the storm. Michael is estimated to have caused $165,072,000 worth of damage to residential real estate in total.
"This has been an expensive storm season for those homeowners in Florida and the Carolinas with the flooding from Florence in September followed quickly by these incredibly high winds and another round of rain from Michael," said Kyle Sandburg, Porch vice president of strategy and research. "Michael's winds have been particularly damaging to homes, destroying roofs and siding, bringing down trees and blowing debris through windows. Adding in the heavy rains that followed, these homeowners are in for an extensive remediation process as they work to remove water from their homes to prevent further damage from mold and other issues."
Following Michael, Porch has seen a large uptick of requests for the types of projects homeowners typically need to undertake as part of the post-storm recovery, such as drywall and plastering, roofing, window, and home building. Most home building requests were for remodeling or flood and water damage restoration. Flooring repair projects showed a 171 percent increase in requests.
"While these storms varied in strength and size – Florence was broader while Michael had a more focused, destructive core – homes in Michael's path along the coast likely took a significant hit from the storm surge. We are likely to see an increasing economic impact from Michael in the months to come that could surpass the hit from Florence," said Sandburg.
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