Residential land prices cooling

Homebuilders scrambling to buy land for new residential communities drove land prices higher in Southwest Florida as the recovery took hold.

But Keith Bass, the president and CEO of Bonita Springs-based developer and homebuilder WCI Communities, says land-price appreciation has cooled.

In a transcript of a WCI call with investors on Nov. 4 posted on SeekingAlpha.com, Bass says builders aren't assuming significant home-price appreciation like they were in previous years, so that has stabilized land prices.