Harvey Recovery Time
Yes 2 months later, we are unfortunately still talking about Hurricane Harvey. Crazy to think it was already that long ago, it seems like it was just a few days ago we were all surrounded by tons of water. Nearly 203,000 homes were either damaged or destroyed in the catastrophic Harvey, costing an estimated $180 billion of damage. This is more than any other natural disaster in U.S. history. Harvey made its first landfall on August 25th, 2017 and then made landfall another 2 times after that over a 6-day period. A total of 738,000 people who registered for assistance with FEMA.
The recovery time for Harvey is very well above average, rebuilding is expected to start around 3 months after landfall. How long is this rebuilding process expected to take? BuildFax is estimating that the rebuild recover time will be up to 20 months. BuildFax is a data analytics firm for residential and commercial real estate industry and based out of Austin, TX. Why is Houston’s recovery time still in the range close to the others? It is said to be because we had mass amounts of people waiting right outside of our community ready to help us.
What about the other top ranked disasters? Hurricane Katrina made landfall August 29, 2005, causing about $160 billion in damage. They averaged 5 months before rebuilding, taking up to 18 months to finish. Sandy made landfall on October 12, 2012 causing $70.2 billion in damage. The rebuild started roughly 3 months after landfall and took about 8 months. Ike was the 3rd largest before Harvey, making landfall September 2008. It did $34.8 billion in damage with a recovery start at 1 month and took about 16 months. Right after Harvey was Irma, causing $100 billion in damage and the estimated recovery time is 2-13 months.
The rebuild time frame is not measure by the size of the storm, but by the damage it caused. Houston is now about to hit the recovery time frame. What does recovery mean? Well for a lot, it means preparing to get your home repaired. For others, rebuild is selling your home and starting over. In Texas alone, there were 37,000 people in shelters from Harvey. After all the grief they have been through, they now must decide what to do with their home. The thing about Houston is, we are #HOUSTONSTRONG! We come together as a community offering our services to one another, whether it is a single person or a business.