Buying & Selling: Toll Bros. Looking Up?

Once again, luxury home builder Toll Brothers is feeling the pain of the housing slump. This time, they're reporting a 44 percent drop in Q4 profit. And yet, they're actually showing signs of bullishness for their next round of orders:

Robert Toll said a few areas in the East Coast showed signs of stabilization, including Washington, D.C., and suburbs in Maryland and northern Virginia. After cutting projections for several quarters, the Horsham, Pa.-based builder raised the number of homes it expects to deliver in the first quarter to a range of 1,600 to 1,900 homes at average prices of $670,000 to $680,000. That's up from a prior projection of 1,500 to 1,800 units.

Right, because that worked so well the last time. Still, there has been evidence that the market is picking up again, so perhaps it's me that's wrong. For the homebuyers' sake, I hope so.

Posted at December 5, 2006 03:34 PM

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Once again, luxury home builder Toll Brothers is feeling the pain of the housing slump. This time, they're reporting a 44 percent drop in Q4 profit. And yet, they're actually showing signs of bullishness for their next round of orders: Robert Toll said a few areas in the East Coast showed signs of stabilization, including Washington, D.C., and suburbs in Maryland and northern Virginia. After cutting projections for several quarters, the Horsham, Pa.-based builder raised the number of homes it expects to deliver in the first quarter to a range of 1,600 to 1,900 homes at average prices of $670,000 to $680,000. That's up from a prior projection of 1,500 to 1,800 units. Right, because that worked so well the last time. Still, there has been evidence that the market is picking up again, so perhaps it's me that's wrong. For the homebuyers' sake, I hope so.