Will the Raiders Relocation Kick Off a Housing Market Blitz
A White Paper
Posted: June 15, 2017 at 12:00 AM by John McClelland
The Raider's move to Las Vegas is something that Las Vegas residents can be proud of and visitors will enjoy seeing. Our city continues to be one of the most exciting, growing areas in the country. Now that media publications have been trumpeting the move, we decided it was important to take a look at some the potential impacts the relocation may have on housing.
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SUMMARY OF FINDINGS
- We see the Raiders move to Las Vegas as strongly positive, but as part of an accumulation of great experiences that can be had in the city, rather than a new tailwind for home prices.
- Of all of the housing market segments, we believe that luxury will benefit disproportionately relative to other price tiers.
- More important determinants of home prices remain the greater job market, demographic trends and the ability of home builders to deliver more product.
- Individual home sellers should be cautious not to read too much into the stadium/development. Most of the evidence we reviewed suggested little to no price impact at the Valley level.