Toll’s average price falls as company aims for millennials

Reuters via BUILDER

Toll Brothers Inc. recently reported its third consecutive quarter of average sales price decline and forecast its first annual price decline in seven years. Reuters staffers Arunima Banerjee and Yashaswini Swamynathan report on this decline for Toll Brothers, which this year introduced a range of homes aimed at millennials that has prices starting from $300,000.

This change is indicative of a larger trend for luxury home builders as they sell more, but cheaper, homes to millennials as they enter the housing market:

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