There are many sunny days with little rain. We just happen to have a spell of it now. In truth, our most serious problem is with drought, not flooding.
Here's a link to the weather station I've setup. You can check the history of precipitation.
Parts of Warwick do flood. There's a great picture from the 30s of when the village flooded up to the top of High Street. Instances of flooding are rare but it does happen and can divide the village when it does. Flooding is, however, localized and so long as you don't build or buy on a flood plane you're OK. The area is very hilly and it is usually farmland that goes under when there is flooding. I don't worry about it but it can be an inconvenience once every 5-10 years or so.
Hurricanes are the one thing I do have concerns about. A direct hit on the area, which last happened in 1938, and caused the flood that innundated the village, could cause a LOT of problems; particularly for the folks in Homestead Village. We haven't had a direct hit since that time. Just buy a place that's at least 20 feet above a stream or river. It's easy to do.