A drop in home construction was announced by Toll Brothers, the predominant company in luxury homebuilders. Shares fell, from $1.27 to $1.07 per share. Speculative buyers, who are now sellers, along with homebuilders who have overbuilt are the cause of this drop, reported top executives.
Toll Brother's is "well prepared" to manage the current situation. There are still plenty of great Bullhead City homes on the market, so there's no need to stress.
|