Toll Brothers: Contracts Down, Traffic Up
The nation’s largest builder of luxury homes, Toll Brothers, reported that its contracts to build new homes fell 27 percent in the third quarter, compared to the third quarter of 2009.

''Even though the unemployment rate among our buyers is about half that of the national average, many of our clients remain on the sidelines waiting for clearer signs that the economy is on the road to recovery,'' said CEO Douglas C. Yearley Jr.

However, the builder reported a profit and said customer traffic and deposits both increased in November.

Source: The Associated Press (12/03/2010)