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CoreLogic announced its damage estimates from Hurricane Ian totaling between $41 billion and $70 billion, which includes wind loss, insured and uninsured storm surge loss and inland flood loss for residential and commercial properties.
Hurricane Ian’s large wind field and landfall path caused wind and coastal storm surge damage along the densely populated Florida coast. Florida had been a popular destination during 2020 and 2021 due to the state’s lack of income tax and housing with lower cost per square foot than homes in other coastal metros. According to CoreLogic, nearly 66,000 pending mortgage applications worth nearly $22.5 billion are currently in progress in Florida, North Carolina and South Carolina and are at risk from Hurricane Ian damages.