Higher Home Sales, Prices Drive Toll Brothers Revenue Beat

Toll Brothers’ orders, a key metric of future revenue for homebuilders, increased 3.2 percent to 1,993 homes in the second quarter — a period well into the spring selling season, which is to homebuilders what the holiday shopping season is to retailers.

“We continue to believe the drivers are in place to sustain the current housing market’s slow but steady growth,” Executive Chairman Robert Toll said in a statement. “Interest rates remain low, the job picture continues to improve.”