By Kris Hudson | The Wall Street Journal
Luxury homebuilder Toll Brothers Inc. TOL -0.71% caters to affluent customers who typically aren’t deterred by price increases. But even the wealthy have their limits.
Toll, whose financial results are closely watched by housing observers as a gauge of the high-end market, on Tuesday reported a 10% decline in sales contracts in recent weeks, which analysts and even the company partly attributed to sticker-shock on the part of consumers. Over the past year, Toll has pushed up its average selling price 21% to $703,000.
