Recently, the amount of Las Vegas land space that is available to homebuilders and commercial builders has become increasingly diminished. Finding the physical means to pull together available Las Vegas land to build on, means that Vegas' lack of dirt needs to increase quickly to meet high demands for expansion.
During the recession, home builders held back on making large land purchases, as the need for new homes was nil. Now that the market is back in business, builders are buying up land space at faster rates.
Current conditions aren't the same as they were before the recession, and Las Vegas land space that's available for building is having to be thrown together to meet rising demands. Plots of 20 acres or less seem to be the only areas available; it is extremely difficult to find land plots larger than 40 acres, currently. However, by this the end of 2013 the Bureau of Land Management has plans to auction off over 130 acres of land, and an additional 400 acres by autumn. In total, 30,000 acres of land could be available for auction in Nevada, with an additional 110,000 acres just outside of the Las Vegas metro area.
Las Vegas land availability has been a topic of concern since the real estate climate has started to change in recent months. Relatedly, land prices have risen significantly, and this is a cause for interest to homebuilders and home buyers, alike. One important question to consider is, with rising land costs, what is that going to do housing costs?