An untold number of home sales transactions could be delayed or canceled.

An untold number of home sales transactions could potentially be delayed or canceled as a result of unprecedented flooding across Houston from Hurricane Harvey.

“What’s kind of scary is anything that could possibly be under contract right now, if there’s any kind of damage or flooding, all of that’s going to have to be corrected prior to closing,” said Ken Morris, Houston president of Coldwell Banker United.

Construction workers, already in short supply, will be even more difficult to find to get houses into the required shape to complete the sales transactions. That could push closings back for months or cancel them altogether. Even properties that are not damaged may have to undergo a new inspection by appraisers, Morris said.

“Lenders are not going to allow properties to close without the repairs being done,” he said. “They are going to want to have properties re-inspected by appraisers to make sure that the property is in good shape now. Even

if there’s no damage, most of the lenders are going to require a re-inspection.

Real estate broker Amy Bernstein, owner of Bernstein Realty, agreed the storm will affect even properties that weren’t flooded.

“The ones that are pending, buyers will go back and make sure there were no roof leaks or other issues associated with the flood.”

The number of currently pending sales would likely be in the thousands.

At the end of July, more than 7,000 single-family homes were pending sale in the Houston area, according to the Houston Association of Realtors.

Morris, whose own home was damaged by the storm, said he is also concerned for agents whose commissions are likely to dry up at the same time they may be needing money to deal with home repairs.

“This will affect my agents,” he said. “When stuff like this happens, you need money. If their incomes are delayed and closings are delayed, it will affect their lives.”

A flooding event will have to be disclosed in future sales, Morris said. That could have an impact on prices as the Memorial Day and Tax Day floods have in some neighborhoods.

“It’s going to be a natural deterrent” for potential buyers, he said. “No matter how much they like the house or the neighborhood, they’re going to back off from it.”

Bernstein views Hurricane Harvey differently from past ones where the damage has been isolated to areas known to be vulnerable to flooding.

“In this case, Houston flooded,” Bernstein said. “I don’t think it will affect a particular piece of real estate like it has in the past.”