Harvey Recovery Could Last Up To 20 Months, Study Finds
Based on data from previous storms, BuildFax, a data analytics company with 23 billion data points on commercial and residential properties, estimates Harvey cleanup will last three months as part of a 20-month recovery. The study looked at the efforts in the wake of hurricanes Katrina, Ike and Sandy.
Data indicates the average primary recovery period for hurricanes of similar size and magnitude is 14 months, with remodeling peaking three months after a hurricane makes landfall. BuildFax predicts the primary recovery period for Hurricane Harvey could outpace Katrina, with recovery stretching upward of 20 months. BuildFax predicts the process will be slowed due to the additional fallout from Hurricane Irma, which slammed Florida not long after Harvey.
With recovery from Hurricane Harvey estimated to cost up to $180B and Hurricane Irma expected to cost about $100B, the primary recovery periods for these two storms could be well above the average for the three costliest storms in recent U.S. history.
