Toll (TOL) Execs Say Housing Bottomed in March '09, Saw Stronger Demand in Washington, NY, Connecticut
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- Toll (TOL) Execs Say Housing Bottomed in March '09, Saw Stronger Demand in Washington, NY, Connecticut
- Homebuilders Very Strong as Toll's Better-Than-Expected Results Bode Well for the Group (TOL, XHB, DHI, LEN, more)
On Toll Brothers' (NYSE: TOL) conference call (which started at 2pm ET), management discussed its preliminary Q4 numbers. Some highlights from the call were:
- Toll will hold one conference call per quarter from now on
- the housing recovery will be "fits and starts"
- the housing market bottomed in March 2009
- demand has been stronger in Washington, New York and Connecticut
- 30% of closed sales were "quick-delivery homes"
- Toll had "pricing power" up to Labor Day weekend, and since then, the homebuilder's ability to raise prices has waned
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