Homebuilders hunting for land again

LOS ANGELES - The housing bust left homebuilders with plenty of red ink on their books as they walked away from swaths of land they no longer needed. But now homebuilders are on the hunt again, vying for choice parcels even in foreclosure-riddled markets like Las Vegas, Southern California and Orlando, Fla., where prices are cheap and there are early signs of a recovery. While not a full-blown land rush, experts point to a surge in land deals since early summer as home sales and prices began to stabilize. For the better lots, the competition is fueling bids well above the asking price.

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