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Toll Brothers slumps most since May after home orders plunge

Toll Brothers Slumps Most Since May After home orders plunge: "Toll Brothers Inc. reported its first drop in orders since 2014, led by a big falloff in California demand, a sign that high-end property markets are cooling. Shares slumped."

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After existing-home-sales rebounded modestly in May, hope was high that lower mortgage rates would spark a renaissance in the US housing market. but a shocking 7.8% crash in new home sales in May has blown that narrative out of the water. Against expectations of a 1.6% MoM rise, new home sales plunged 7.8% in May. Read More

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Toll Brothers reported a decline in orders for new homes in its fourth quarter. while orders for new homes plunged 13 percent in the fourth quarter from a. Officer Doug Yearley said he didn't expect the slump to last long.. by William Morris; More parking and amenities coming to Shoppes at Arbor Lakes

Toll Brothers Slumps Most Since May After Home Orders Plunge Prashant Gopal Dec 04 2018, 1:22 PM Dec 04 2018, 4:06 PM December 04 2018, 1:22 PM December 04 2018, 4:06 PM

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Oh dear! Read some recent headlines about housing prices, and you might find your heart rate rising. Check out this one from an Associated Press article, for example: "Home Prices Plunge by Most.

High-end homebuilder Toll Brothers, when it announced earnings this morning, made some peculiar comments. Not so peculiar was the plunge in new orders in its fourth quarter, ended October 31: New orders dropped 13.3% from a year ago to 1,715 units. In California, Toll Brothers’ largest market by revenue, new orders plunged 39.4% to just 226 units.

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Homebuilder Toll Brothers said the current slump in residential construction is unlike any it has seen in 40 years as it became the latest to warn of a glut in new homes for sale and a slowdown in.