At the end of last year in December 2011, a public consortium consisting of experts on insurance, risk management and seasonal climate forecasting at the University College London projected that this summer we would have an above average hurricane season in the Atlantic Ocean. Their predictions believe that there will be 14 tropical storms, 6 hurricanes and 3 major hurricanes. If this is true this means that we will go through the entire alphabet. The last time we went through the entire alphabet was in the summer of 2005, which was the year Katrina hit gulf coast cities.
In May of this year the NOAA (National Oceanic and Atmospheric Administration) released their forecast saying that this will be an average hurricane season (9-15 storms). They based their forecast off of the current ocean temperatures in the Atlantic and the wind shear. The Florida State University for Ocean-Atmospheric Prediction Studies issued its annual forecast predicting that 13 storms would come from the Atlantic this season. They believe 7 of those storms will turn into hurricanes.
Now that we’re coming into the middle of July, we now have had 4 tropical storms. Realistically this pace is looking at a 13-15 named storm season. The temperatures have been a little bit of the average temperatures, but one thing to note is this will not have a huge effect on Florida Miami real estate.
Hurricanes actually increase the price of real estate. They really help bring jobs back to life. The negative effects that big hurricanes have on real estate are higher home insurance prices. Miami does get hit yearly by hurricanes but it’s important to note that the damage is very minimal because the hurricanes are usually at a category one. When the hurricanes hit the Gulf and go towards the panhandle that’s when they do far more damage. Overall it looks like a great season and no need to worry!
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