Toll Brothers, the leading company in luxury homebuilders, announced a drop in new home construction. Shares dropped, from $1.27 to $1.07 per share. Speculative buyers, who are now sellers, together with homebuilders who have overbuilt are the cause of this drop, according to top executives.
Toll Brother's is "well prepared" to manage the present situation. Don't worry, this drop means there are many great Gig Harbor homes out there.
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