Talking Points …
- Prominent luxury home builder Toll Brothers Inc’s quarterly revenue jumped nearly 31 percent as the company sold more luxury homes at higher prices, underscoring a steady growth in the U.S. housing market.
- Shares of Toll Brothers, which mostly builds high-end single-family homes, rose as much as 8.9 percent to $29.51. The strong home sales data also boosted shares of other homebuilders Lennar Corp, D.R. Horton, and PulteGroup.
- Toll Brothers’ orders increased 3.2 percent to 1,993 homes in the second quarter. Lennar, D.R. Horton and PulteGroup have also reported strong results, mainly due to higher demand from first-time buyers.