Momentum builds again after return to a post-recession pace
By Luke Kawa | BloombergBusiness
Economic data and corporate earnings reports released on Tuesday make it easy to remember why the housing market is expected to be one of the U.S. economy’s bright spots for years to come.
Home Depot Inc. and Toll Brothers Inc. reported their calendar fourth-quarter 2015 results before the market opened, both exceeding analyst estimates on the top and bottom lines. Douglas Yearley, chief executive officer of Toll Brothers, said a dearth of labor crimped the luxury-home giant’s operations by extending build times, a sign of strong activity in the sector. During an interview on Bloomberg TV, Yearley noted that he didn’t see any recessionary conditions in the U.S. but cautioned that volatility in financial markets was beginning to weigh on deals.
