Luxury Real Estate

Luxury Developers Hopeful on High-End Housing 

Horsham, Penn.-based Toll Brothers [stock TOL][/stock] said it signed more contracts during the third quarter of its fiscal year 2009 than it did in the year-ago quarter, even though it has fewer selling communities. The lift in signed contracts along with a drop in cancellations has the luxury homebuilder cautiously optimistic that upscale housing may be rebounding, despite the company’s $472.3m quarterly loss.