Dec. 10 (UPI) Toll Brothers Inc. reported earnings above Wall Street expectations. The largest U.S. luxury homebuilder saw an increase in home deliveries, but overall profits plunged with fewer tax benefits.
"Buoyed by historic low interest rates and significant pent-up demand, we raised prices and accelerated per-community home sales paces as the housing market continued its recovery," said Toll Brothers CEO Douglas Yearley in a statement. The company benefits from a tight supply of existing homes.