Toll Brothers Reports Preliminary Quarter-to-date Net Signed New Home Contract Results

(RTTNews) - Toll Brothers, Inc. (TOL) reported that, from August 1 through September 15, 2020, net signed contracts increased 110% year-over-year to 1,678 homes, compared with 800 homes, last year. Average monthly per-community demand increased 114% to 3.6 contracts-per-community from 1.7, last year. The company attributed the accelerated buyer demand to a number of factors, including historically low interest rates, and a continued undersupply of homes.

Douglas Yearley, Jr., CEO, said: "The strong demand in our third quarter has continued into mid-September of our fourth quarter throughout our twenty-four states and across our product lines and price points. We continue to raise prices to manage the pace of growth, offset rising costs, and maximize profitability."