Realtor.com is estimating Dorian, which is a Category 3 hurricane as of the morning of Sept. 5, has put an estimated $1.7 trillion worth of real estate in danger. That’s thanks in part to a change in direction putting it further north along the Eastern Seaboard.
George Ratiu, a senior economist for realtor.com, told HousingWire, “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. While the storm intensity has been downgraded, it remains a serious threat.”
He added, “We expect to see a significant disruption to national home sales and construction if the storm continues on its current trajectory. 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.”
Read more about Dorian’s impact by clicking on the photo above.