BLM auction will test Vegas land market

A big real estate auction could soon test the local development industry’s recovery.

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The Bureau of Land Management has scheduled its biggest land sale in nearly a decade for Dec. 2 at North Las Vegas City Hall, where it will put on the block 40 southwest Las Vegas parcels totaling nearly 520 acres.

The auction is “a sign that the community is on more stable footing than it was at the height of the recession,” said Brian Gordon, a principal with local research firm Applied Analysis.

But local observers disagree on whether the timing is right for an auction.

Source: http://www.reviewjournal.com/business/blm-...