Toll Brothers Shows Significant Slowdown in New Contracts : The Real Estate Bloggers

Toll Brothers Shows Significant Slowdown in New Contracts

January 13th, 2006 • Related • Filed Under

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The nations homebuilders are facing a slowdown in building demand. Toll Brothers,  a builder of upscale properties, is facing a slowdown of new contracts signed. Housing stocks should be watched carefully in  the coming month. Toll Brothers stock was down over 1 percent on heavy trading today.

Beginning in the fourth quarter of fiscal 2005 and continuing into the first quarter of fiscal 2006, we have experienced a slowdown in new contracts signed,” Toll Brothers said in its annual 10-K report for 2005.

Among other factors, Toll attributed the slowdown on softening demand from buyers, a lack of available home sites caused by delays in new community openings, and delays in getting approval for new phases of existing communities.

Toll also said damage from last year’s hurricanes, high gasoline prices and expected increases in heating fuel costs have dampened consumer confidence and home demand.

“Because home price increases have slowed in most markets, it appears that customers are taking more time in making home buying decisions,” the company said in the filing. via Financial News - Yahoo! Finance.

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