In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Monday, November 10, 2014

Lawler on Toll Brothers: Net Orders Up, Orders Per Community Down Last Quarter

by Calculated Risk on 11/10/2014 03:58:00 PM

From housing economist Tom Lawler: Toll Brothers: Net Orders Up, Orders Per Community Down Last Quarter; Deliveries Up, Partly on “Spike” in Lumpy “City Living”

From Toll:

"In anticipation of its webcast presentation and related investor meetings on November 13, 2014 at the UBS Building and Building Products 11th Annual CEO Conference in New York City, Toll Brothers, Inc. (NYSE:TOL) (, the nation's leading builder of luxury homes, today announced preliminary results for contracts, backlog and home building revenues for its fourth quarter and fiscal year ended October 31, 2014. These results are preliminary and unaudited. The Company will announce final totals when it releases fourth quarter and fiscal year earnings results on December 10, 2014 ...”
Here are some summary statistics for the quarter ended October 31, 2014 compared to the comparable quarter of 2013.

  UnitsAverage Sales Price
Quarter Ended: 10/201410/2013% Chg10/201410/2013% Chg
Net Orders: Total1,2821,1838.4%$756,786$709,2146.7%
   City Living483729.7%$1,677,083$1,429,73017.3%
Deliveries: Total1,8071,48521.7%$747,205$703,3676.2%
   City Living12325392.0%$1,356,098$2,100,000-35.4%
Net Orders/Community5.015.17-3.1%     
Backlog As of:10/201410/2013% Chg10/201410/2013% Chg
   City Living144198-27.3%$1,494,444$1,147,98030.2%