NFL Franchise Departures and Nearby Home Prices

Brad Humphreys and Geoffrey Geoffrey Propheter
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Geoffrey Geoffrey Propheter: University of Colorado, Denver

No 24-05, Working Papers from Department of Economics, West Virginia University

Abstract: Research shows that US professional sports facilities positively impact nearby house prices. New facilities typically have existing teams, complicating a separate assessment of the impact of teams and facilities. Existing research analyzed departures of pro basketball teams, but arenas host many non-sporting events. These results may not generalize. We exploit the relocation of two professional football teams to investigate the impact of team departures on home sales. Difference-in-differences and repeat sales model results indicate proximity to one team represented an amenity while proximity to the other did not. Differences in urban form likely explains this heterogeneity.

Keywords: NFL; home prices; relocation; urban form (search for similar items in EconPapers)
JEL-codes: O18 R1 Z2 (search for similar items in EconPapers)
Pages: 38 pages
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