Visibly undeveloped land isn't a good proxy for the market's land supply. Much of the 'empty' land on the edges of the Vegas Valley is BLM land [1]. Periodicall

Visibly undeveloped land isn't a good proxy for the market's land supply. Much of the 'empty' land on the edges of the Vegas Valley is BLM land [1]. Periodically, the government auctions off parcels [2], but the BLM's incentives are a bit more complex than those of private landowners. [1] https://caltopo.com/map.html#ll=36.12923,-115.0639&z=11&b=om&a=sma https://caltopo.com/map.html#ll=36.12923,-115.0639&z=11&b=om... [2] https://www.blm.gov/sites/blm.gov/files/documents/files/SNPLMA_FY_2018%20_Fall_Land_Sale_Maps.pdf https://www.blm.gov/sites/blm.gov/files/documents/files/SNPL...