CoreLogic Reviews 2012 Natural Disasters and Their Impact on Homes

Natural disasters have broad impacts on communities and economies, starting with physical damage and trickling down to businesses and investors. Each year, ""CoreLogic"":http://www.corelogic.com/ releases a Natural Hazard Risk Summary and Analysis, reviewing the most significant natural disasters of the year.

[IMAGE]

""Hurricane Sandy was, without a doubt, the single most destructive natural hazard event of 2012,"" said Thomas Jeffery, senior hazard scientist at CoreLogic.

Destruction from the storm could cost as much as $50 billion, and in just the state of New Jersey, an estimated 72,000 homes were damaged, according to CoreLogic.

""Because the strength, severity and geographic impact of natural disaster events will change from year to year, an understanding of patterns in hazard activity, geographic

[COLUMN_BREAK]

vulnerabilities and the properties exposed to each different type of disaster is crucial to managing risk,"" said Jeffery.

On a smaller but still significant scale, Hurricane Isaac hit the New Orleans area in August, resulting in about $2 billion in insured losses.

Flood losses, bolstered by Hurricane Sandy, increased for the third year in a row, according to CoreLogic's data, and totaled about $10 billion for the year.

Destruction from wildfires was also notable in 2012. In fact, when looking land area burned, last year's wildfire season ranks as the third most destructive on record. However, the total number of fires was the lowest on record since 1989, meaning fires are decreasing in number but increasing in size.

The Waldo Canyon Fire in Colorado was ""the most destructive in Colorado history,"" destroying 346 homes.

The Whitewater-Baldy Fire in New Mexico also set a state record. The 297,000-acre fire is the largest on record in New Mexico.

Last year's tornado season was not a calm one. In January, 79 tornadoes were observed across the country, making January 2012 ""one of the most active Januaries since recording began in 1950,"" according to CoreLogic.

Illinois, Indiana, Kentucky, and Ohio experienced a rash of tornadoes in February. With more than 225 homes and businesses damaged and about $475 million in damage, the worst of the destruction was seen in Harrisburg, Illinois.