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The stock market reacted favorably to news form toll brothers.

 

The expectation that Toll Brother's would post a larger loss than 59 cents per share was received favorably today by Toll Brothers shareholders.

The housing market is searching for bits and pieces of good news for a sign that the worst part of the housing slump is over. Today Toll Brothers delivered on some welcome news as they reported a smaller loss that most analysts had predicted. The company which is one of the largest national home builders reported a median sales price of over 525k for the second quarter. In 2007, their median sales price was well over 700k as they have been forced to lower prices in many markets and trim back their profit margins. Moving forward they have indicated a focus on lower volume and higher margins to ensure they can achieve modest financial goals without carrying too much inventory. The return of the upper end home market could get a boost by the recent changes with the conforming markets now accepting jumbo loans in certain areas under conforming price guidelines. The market should also get a boost from interest rates remaining near historical lows and the beginning of the summer home buying season.

6-4-2008 ? LoanNetwork.com

 

 

 

 

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