Real Estate
Builders Fall as Toll Brothers Sees Rates Crushing Demand
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Wall Street’s pandemic gem faced a broad selloff Wednesday as fears of constrained homebuilders’ margins, bloated inventories and elevated mortgage rates rattle investor sentiment.
Shares of all 18 members in the S&P Composite 1500 Homebuilding Index fell, sending the gauge to the lowest level since December 2023, after results from luxury homebuilder Toll Brothers Inc. and key construction data Wednesday indicated the residential real estate market may be in store for more turbulence.