Toll’s Yearley Says Homebuilder Has Room to Raise Prices

Toll Brothers Inc., the largest U.S. luxury-home builder, has room to raise prices on its houses as the real estate market extends its recovery, Chief Executive Officer Douglas Yearley Jr. said.

Buyers are purchasing properties “sight unseen” in New York and demand is strong on the coasts, Texas and in suburban Detroit, Yearley said today at The Year Ahead: 2014, a two-day conference in Chicago sponsored by Bloomberg LP.