Toll Brothers Reports Gain in Sales to Move-Up Homebuyers

Toll Brothers Inc., the largest U.S. luxury-home builder, reported increases in sales, prices and orders during its second quarter as more owners decided to move up to bigger properties.

Contracts signed for Toll Brothers homes climbed to 879 in the fiscal quarter ended April 30, from 866 a year earlier, the Horsham, Pennsylvania-based company said in a statement today. The average price for the orders rose to $570,000 from $565,000 a year earlier. Revenue increased 8 percent to $319.7 million.