Luxury Home Builder Reports a Revenue Gain of 41%

Reuters – Toll Brothers, the largest luxury home builder in the United States, reported its highest revenue since the recession of 2008, underlining the recovery in the housing market and sending its shares to a five-year high.

The company, which focuses on affluent customers who typically make at least $100,000 a year and have spotless credit records, reported an increase in orders and forecast higher revenue for the full year.

“We are enjoying the most sustained demand we have experienced in over five years,” Toll’s chief executive, Douglas C. Yearley Jr., said in a statement. “The housing recovery is being driven by pent-up demand, very low interest rates and attractively priced homes.”

The housing market, which fell into a deep rut six years ago prompting a recession, has been recovering this year. Home sales have risen, helped by higher rental rates and low inventory. Read more of this post

Advertisements