Raleigh Relocation Information
Toll Brothers Reduces Incentives
First Contract Increase in 4 Years, Reports Buyers "Increasingly Confident"
In yet another good sign for the housing market, Toll Brothers stock jumped today on positive reports.
The luxury homebuilder announced that:
- New home contracts up 44% from second fiscal quarter this year.
- First annual increase in signed contracts in 4 years.
- Incentives being scaled back, no longer necessary to "get customers in the door".
- Only 9% cancellation rate, lowest cancellation rate in 3 years.
Toll Brothers stock is up 11% this morning on the positive news.
Inventory is reducing, particularly in lower price points, and we've heard incentives are not as good as they were a few months ago. Still some bargaining power in some areas, but it's starting to feel like we're off the bottom and on our way back up to a "reasonable" market.
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