The Review Journal reports from Nevada. "If the Bureau of Land Management public land auction is any indication, Las Vegas has turned into a buyer's market as demand for land has slackened and sales have slowed. In one of the smallest auctions since the Southern Nevada Public Land Management Act was passed in 1998, only four parcels totaling 25 acres were sold at Wednesday's BLM auction for nearly $12.5 million, or roughly $500,000 an acre."

"Fewer than 100 people attended the auction, which was held at the BLM's Las Vegas field office. Past auctions have packed up to 2,000 people into venues."

"'We didn't have long lines in registration,' said BLM realty specialist Anna Wharton. 'We cut back knowing there's sluggish sales in the valley. If anyone here is interested in nominating a parcel, please do so.'"

In Business Las Vegas. "In September the BLM said it would allow the market to drive decisions on releasing land, and that it would not sell land when the real estate market is soft. The BLM canceled an auction for 2,200 acres in Henderson in December when developers were dropping their construction plans because of the soft market."

"Without making more land available, Southern Nevada will become more like Southern California with its soaring prices because of limited land, said Las Vegas housing analyst Dennis Smith. Builders are having difficultly finding parcels of between 10 to 20 acres, and property owners aren't cutting their prices, he said."

"'If you don't have any more federal land, how do you expect prices to stabilize?' Smith said. 'We have been talking about this for 10 years, and eventually there is going to be a serious problem with land supply.'"

"A study by real estate consultant RGR Group of Las Vegas showed nearly 36,000 acres of federal and private land available for residential development."

The Las Vegas Business Press. "Boyd Gaming Corp. has eliminated tentative plans for 1,000 condominium units at its $4 billion Echelon Place development, according to county planning permits."

"'Few projects are likely to commence construction in the next 12 months,' said Brian Gordon, principal of a local business advisory firm. 'Sources of market demand in 2007 will be much different than reported two years ago.'"

"Roughly 10,944 units had been canceled in the fourth quarter, and another 1,679 were suspended."

From CNN Money. "D.R. Horton, like its rivals, has cut the number of new homes it starts to build, but a large supply of existing homes is also forcing homebuilders to reduce prices or offer incentives."

"For example, in Las Vegas, formerly a 'hot' market, there are 2,500 unsold new homes, CEO Don Tomnitz said. But Las Vegas has 25,000 unsold existing homes, many of them unoccupied."

The Arizona Republic. "The Arizona State Land Department still has no registered bidders for next Thursday's planned auction of nearly two square miles of state trust land recently annexed into Fountain Hills."

"The state has re-estimated the worth of the 1,276 acres at $95 million, officials said. The land was previously estimated at $130 million for an auction that was canceled in September because of low interest. A stagnant Valley housing market has led to an abundance of homes for sale and less interest in developing new housing tracts."

"At least one major developer in the Fountain Hills market will pass on next week's auction. Shelley Johnson, a spokeswoman for MCO Properties in Fountain Hills, said her company does not intend to participate."

"Jamie Hogue, a deputy land commissioner for the Land Department, said 3,000 information packets about the Fountain Hills land were sent to prospective bidders. 'I don't have information on specific developers that I think will show up,' Hogue said. 'If there weren't any bidders, we would have to review the entire process and consider what the options are for the future.'"

"New luxury condominiums are breaking price barriers, but the market slipped last month for Scottsdale resale condos."

"The median price of Scottsdale condos dropped 10 percent in February 2007 to $254,950, and sales were off 6 percent from February 2006, according to a report Thursday from Realty Studies at Arizona State University."

The Yuma Sun from Arizona. "Eastern Yuma County has been described as a blank canvas. Some projects are just being thought about, others are moving through various stages of the regulatory process. 'There's a lot of big things planned out there,' said Anne Eichberger, long-range planning manager for Yuma County. 'The question is what gets built.'"

"Since 2000, 274 housing units have been constructed in the Dome Valley/Wellton planning area. In the same time frame, zoning changes were approved that could allow for the construction of up to 317 more housing units."

"Amendments to the Comprehensive Plan have been approved that would enable rezoning for up to 1,298 additional housing units. These numbers don't include housing activity inside the town of Wellton, where Coyote Wash is located. When built out, Coyote Wash will include 2,500 residential lots (and) 140 condominiums."

"Realtor Barry Julian focuses on eastern Yuma County 'and has been extremely busy in the last couple of years. Thousands of acres have changed hands. Some pieces of ground have rolled over three times in the same year. It's the only place to go for growth.'"

"He said he's getting a lot of phone calls from energy companies from around the country. Others drive through the area, see the many for sale signs and wonder what is happening, he said."