LOS ANGELES - builders luxurious Toll Brothers Inc. said Wednesday that its mainly wealthy customers begin to get rid of concerns about the housing market and they buy houses again.
The Builder said its contracts for new homes increased by 7% and home delivery increases 9% in February to April from the previous year.
He also posted a small quarterly loss and raised its forecast for the number of houses that it expects to deliver to this exercise.
Toll Brothers shares reached 28 cents $20.91 in after-sales Exchange after the addition of 36 cents to end at the regular session Wednesday at $20.63.
The results bucked the recent trends among major manufacturers, whose most posted lower number of sales for the first three months of the year than the previous year, when a federal tax credit helped to fuel sales.
That Government was incentive, aimed primarily at primo-homebuyers, not much of a factor for toll brothers. The constructor is primarily intended for owners who are looking to trade in a more beautiful home and a sterling credit, employment and can afford a 30 percent downpayment.
These buyers was a great success in the financial crisis that began in the fall of 2008, but their fortunes improved as the stock market recovered. Their main obstacle to buy now is in many cases, concern when the housing market will recover.
But CEO Douglas Yearley said that these concerns appear to be easier, or at least starting to take a back, for a large number of buyers of the toll.
"We believe that some of our customers, after waiting so long, are beginning to move off the coast of the fence and on the market, motivated by attractive prices, low interest rates and, especially, the desire to take the next step in their lives"Yearley said."".
While describing the spring season of sales similar to last year's home, Yearley said that he sees signs of stability in the market and the improvement through the offerings of toll brothers.
The company raised prices in some parts of the city of New York and Hoboken, New Jersey, by as much as 10%, compared to a year ago. He has also climbed a community of luxury price near Detroit where the houses are priced in the middle of 500,000 s $.
Still, toll pricing remained flat in many other markets, Las Vegas, Phoenix, Chicago and low secondary residences remaining market of Florida, said Yearley.
"We tried adding incentives to see if that drive demand, and he did not," he said.
The average price of the contracts of newly signed of the toll for the quarter increased by 1%.
Five years after the housing crisis, many buyers remain discouraged by unemployment high, strict standards and concerns that the values of houses could decrease more loan.
The United States sales new houses increased by 7.3% in April to an annual rate, seasonally adjusted from 323 000. It was the second consecutive monthly increase. A normal housing market would produce a rate of about 700 000 sales per month.
Toll Brothers, which is based in Horsham, PA. and has operations in 19 States, has seen his company more strong over the past two years, but it is still lower than it was before the economic slowdown.
The company reported a net loss of $ 20.8 million, or 12 cents per share, in the three months ended April 30. That compares to a net loss of $ 40.4 million, or 24 cents per share, a year ago.
Revenues spent 3 percent 319.7 million 311. 3 million dollars a year earlier.
Analysts surveyed by FactSet had expected a loss of 4 cents per share on revenues of 320.5 million.
Projects brothers toll houses prices delivered $ 540,000 to $ 560,000 in the second half of its fiscal year.
Cancellation of the contract rate is increased from 5.3% to 3.9%.
The constructor also provides that it will be between 2,300 and 2,800 houses this fiscal year. He previously said shipments could be as low as 2,200.
Toll Brothers had 203 communities at the end of the quarter and expects to finish the year with 215-225. It is 190 at the end of fiscal year 2010, but well below its record of 325 communities, four years ago.
It plans to open 35 new communities at the end of the year, many of them in the mid-Atlantic region.
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