CoreLogic, a global property information, analytics and data-enabled solutions provider, released its 2021 CoreLogic Climate Change Catastrophe Report, revealing over 14.5 million single- and multifamily homes were impacted by the largest natural catastrophe events of 2021, with an estimated $56.92 billion in property damage. This year’s report analyzed 13 major hazard events of 2021 — from hurricanes and severe weather such as tornadoes and hailstorms to wildfires and winter storms — to understand how these events have disproportionate yet wide-sweeping effects on properties.

Using its advanced risk modeling technology, CoreLogic analyzed over 120 million residential structures in the U.S. and took a closer look at defining impact. Property impact varies by event — while a wildfire has the potential to consume an entire property, there may also be damage caused by smoke, ash and odor to the neighboring structures that remain standing. While risk comes in various degrees, any sort of property damage can have a compounding effect on the homeowner and economic stability.