BiggerPockets Daily
Months After a Generational Storm, Here's How Asheville is Recovering
Jan 23, 2025
Asheville is on the road to recovery after Hurricane Helene, with its real estate market facing significant challenges. The storm left behind widespread damage, impacting home sales and rental prices. Local residents are grappling with rising costs and taking on multiple jobs to make ends meet. Tourism, a vital part of Asheville's economy, is slowly rebounding, yet still feels the effects of past disasters. Grassroots efforts and expert insights shed light on the community's resilience and future prospects as they rebuild.
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Quick takeaways
- Asheville's real estate market has seen a dramatic downturn post-Hurricane Helene, with nearly 40% drop in home sales and rising hesitance from buyers.
- The city's recovery heavily depends on bolstering its vital tourism sector, which has suffered significantly due to the storm and ongoing pandemic challenges.
Deep dives
Impact of Hurricane Helene on Asheville
Hurricane Helene brought catastrophic flooding to Asheville, North Carolina, causing extensive damage to homes, infrastructure, and local businesses. The storm delivered five months' worth of rain in just three days, leading to a catastrophic failure of the Lord Dam and causing water levels in the French Broad and Swannanoa Rivers to rise dramatically. The storm resulted in billions of dollars in property damage, and communication was severely compromised for weeks due to power outages and damaged infrastructure. The recovery from such a disaster is expected to be long and challenging, as many areas remain devastated and in urgent need of rebuilding.
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