Toll Brothers sees lofty prices turning off buyers

Toll Brothers Inc TOL -2.49%.’s shortfall in new orders for its fiscal third quarter underscores a challenge now facing the U.S. home-building industry: Aggressive price increases in the past two years have hobbled demand at a time when builders finally are ramping up supply.

Toll, a luxury builder based in Horsham, Pa., reported Wednesday morning that new orders for the quarter ended July 31 amounted to 1,324 homes.

That’s a 6% decline from Toll’s year-ago figure when analysts were expecting a gain of about 10%.

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September 12, 2014

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