Toll Brothers Comes To Atlanta
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Interesting article on Toll Brothers coming to Atlanta. It looks like they are making the decision to move assets to regions that have not had the high run up and bubbles and try to enter the more stable markets. Atlanta, with its 72,000 new housing starts a year, is the leading stable market in the country right now, and looks to be a good move for Toll Brothers.
Horsham, Pa.-based Toll Brothers (NYSE: TOL) operates in 21 states, including the Carolinas and Florida, and sold $5.8 billion worth of homes in fiscal 2005.
For the three months ending Jan. 31, the Southeast was the company’s top-performing area, with sales up 152 percent over the same period last year.
The entrance of a national builder is a vote of confidence for the metro Atlanta housing market, said Roger Tutterow, dean of the Eugene W. Stetson School of Business and Economics at Mercer University.
The company likely chose to come to Atlanta because the metro area has escaped the big run-ups in housing prices in other markets that some call housing bubbles, because Atlanta is one of the nation’s leading markets for new-house construction and because it has a strong market for luxury housing, several experts said. via Atlanta Business Chronicle
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