New Home demand picking up

HORSHAM, Penn. – Aug. 15, 2008 – Robert Toll, the outspoken CEO of Toll Brothers Inc. luxury home builder, says sales were weak in the latest quarter, but there’s “growing pent-up demand” from people who have delayed buying for the past three years.
“Although the rate of cancellations as a percentage of our backlog remained quite elevated compared to our historical standards, total cancellations during the third quarter … were the lowest quarterly total in over two years,” Toll said. “We believe this reduction in cancellations is a positive sign.”

Read the hole article at http://www.floridarealtors.org/NewsAndEvents/n4-081508.cfm