Demand for developable farmland in parts of Southwest Florida has caused prices to triple in just three years, according to a report by The St. Petersburg Times. It notes that Pulte just paid $16,000 per acre for a 47-acre lot located two miles from another development where lots sold for $5,700 three years ago. Driving the prices is the intense demand for new homes and a dwindling supply of suburban tracts suitable for development. Last year, builders pulled 5,387 permits for new homes in Pasco County alone, a new record.

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