Toll Brothers Slashes Sales Outlook

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Luxury home builder Toll Brothers Inc. on Tuesday slashed its forecast for home sales for the second time in three months, as first-quarter new orders fell 29 percent on slumping demand.


Toll now said it expects to close on sales of 9,200 and 9,900 homes in the fiscal year, down from a previously lowered view of 9,500 and 10,200 homes. It attributed its revision to slowing demand and delays obtaining inspections, certificates of occupancy and utility hookups.


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