Real Estate News

CoreLogic: Arthur’s storm surge damage potential $4.5 billion in Myrtle Beach metro area

Hurricane Arthur was, for locals, not much more than vacationers whizzing one way or the other on Interstate 95 and misguidedly not heading coastwise to enjoy the delights of the Grand Strand.

For newcomers, it was a gentle introduction to the tropical storms they will certainly follow between late June and mid-October each year.

For tourists, it was an experience that none of the area’s amusement rides, bars or other attractions could give them.

But, my oh my, says CoreLogic, what might have been.

CoreLogic, a property information, analytics and services company in the U.S. and Australia, calculated the damage Arthur could have done in selected areas in the Carolinas and the Virgina Beach area were it to strike there as a Category 1 hurricane.

While the Myrtle Beach metro area of South and North Carolina could have suffered an eye-popping $4.5 billion damage to the 23,856 homes in its path, it was only the second highest potential loss on the list.

The Virginia Beach metro area of Virginia and North Carolina stood to be dunned nearly $20 billion with a direct hit.

The total potential, CoreLogic figured, came in at nearly $34 billion with potential damage to 163,274 homes.