LAS VEGAS (KSNV MyNews3.com) -- The Bureau of Land Management netted more than $21 million Tuesday through an auction of land.
The agency sold 109 acres -- the biggest amount the BLM has seen since the recession hit in 2007. Homebuilders bought 74 of the 109 acres, about 70 percent.
According to the Lied Institute for Real Estate Studies, the purchase signals growing homebuilder confidence in a crushed Las Vegas housing market.
Because of high demand, home builders will fill the land with brand new houses.
But in this southwest part of the valley, there's another high demand, and that's for schools. They're already overcrowded, and some fear they could become even more burdened once people come to fill the new homes.