As the Las Vegas Golden Knights make a Stanley Cup run, the city’s real estate market continues to grow.
Housing prices are rising in Vegas, as new construction jobs and the lack of state taxes are drawing people to the area from neighboring California. But Realtor.com reports that experts are split on whether the growth has been driven by the new NHL team’s success.
Some see sport successes as too temporary to drive local markets. But others believe the addition of a major league sports team can help the city’s image.
"There’s an impression in the real estate industry that hot professional sports teams like the Golden Knights can only be beneficial," according to broker Brian Kyle of First Serve Realty. Having a top franchise in one of the four major sports leagues catapults Vegas into a different stratosphere, allowing it to claim the moniker of "big-league city."
