Fort Washington-based luxury homebuilder Toll Brothers reported higher fourth-quarter revenue but issued a cautious outlook for 2026, as national housing demand remains soft amid high mortgage rates and broader economic pressures. The company expects 10,300 to 10,700 home deliveries in fiscal 2026 — slightly below Wall Street projections — and is taking a selective, demand-driven approach to new construction and land purchases. Although its affluent customer base helps buffer affordability challenges, CEO Douglas Yearley Jr. said market conditions remain “choppy,” prompting the company to balance pricing and build pace carefully; the average selling price is projected between $970,000 and $990,000. Toll Brothers’ quarterly revenue rose 3% to $3.42 billion, and deliveries beat expectations at 3,443 units, though profit slipped partly due to a delayed sale of its apartment portfolio. Toll Brothers announced the sale of its apartment development business and unbuilt properties to real estate investment firm Kennedy Wilson for $347 million in September.
Source: Wall Street Journal; 12/8/2025