Within most denominations including the Catholic Church, there are some who believe in a literal interpretation of creation and the flood, and some who don't.
As stated in Geremia's answer, the Catholic Church teaches,
The first three Chapters of Genesis contain narratives that correspond
to objectively real and historically true events, no myths, no mere
allegories or symbols of religious truths, no legends.
1909 Pontifical Biblical Commission (Latin original)
but Pope Francis says:
[God] created beings and allowed them to develop according to the
internal laws that he gave to each one, so that they were able to
develop and to arrive and their fullness of being... And so creation
continued for centuries and centuries, millennia and millennia, until
it became which we know today, precisely because God is not a demiurge
or a magician, but the creator who gives being to all things...
"Francis inaugurates bust of Benedict, emphasizes unity of faith,
science". cna. 27 October 2014. Retrieved 3 November 2014.
So it is not clear as to what is the official position of the Catholic Church on this.
Most people have a kind of hybrid belief. They take some things of the Bible as literal and some as figurative. Taking certain writings as figurative is fine when the Bible is explicit that it is figurative. Some of these include prophecy and parables. Nevertheless, the Bible tells the account of creation, Noah, and Jonah as real, literal, historic events.
For instance, the great majority of Christians believe in the story of Jesus as it is written in the Bible. In fact, I don't know any Christian who doesn't, though there may be some. However, in the Bible Jesus talks about Noah as a literal person that lived in an actual time and went through a world wide flood.
37 But as the days of Noah were, so also will the coming of the Son of
Man be. 38 For as in the days before the flood, they were eating and
drinking, marrying and giving in marriage, until the day that Noah
entered the ark, 39 and did not know until the flood came and took
them all away, so also will the coming of the Son of Man be.
This is problematic because if Jesus is real, and God, why would He refer to Noah and the time of Noah as real, if it was simply figurative?
Jesus says the same of Jonah:
For as Jonas was three days and three nights in the whale's belly; so
shall the Son of man be three days and three nights in the heart of
In other words, if Jonah did NOT spend 3 days and 3 nights in the belly of the whale, because you don't believe it happened, then neither did Jesus spend three days and three nights in the heart of the earth.
In this light, a hybrid belief in the Bible doesn't make sense. Either you believe the Bible is all fairy tale, or the Bible is all real and true. It either happened or it didn't, there is no middle ground here. Either the Bible is, like it claims, the word of God, or it is not. Just really can't have it both ways, if you want to be consistent.