By Ilaina Jonas
NEW YORK (Reuters) - Robert Toll, chairman and chief executive of Toll Brothers Inc (TOL.N: Quote, Profile, Research, Stock Buzz), the largest U.S. builder of luxury homes, on Wednesday said the crucial spring selling season so far has been better compared with prior weeks but weak compared with a year ago.
"Week over week, it feels great," Toll said at the Reuters Housing Summit. "Year to year, same-store analysis, not too well."
Toll said foot traffic and contracts have been improving in Naples, Florida, an area where six months ago, "you couldn't give a home away."
Recently, Toll Brothers received orders for to-be-built homes in Naples and in the West Gulf Coast, Florida market.
Toll also is studying plans to expand internationally. Toll officials have met with possible joint venture partners in China and Mexico.
"We are exploring Eastern Europe a potential market, and the Middle East" Robert Toll said. "We're far from announcing our first venture. We're still exploring ... We definitely want to diversify to larger platform."
(For summit blog: summitnotebook.reuters.com/)
(Editing by Gary Hill, Phil Berlowitz)
© Thomson Reuters 2009. All rights reserved.
| Health | Nov 09 - 12, 2009 | Health |
| Autos | Nov 02 - 4, 2009 | Autos |
| Middle East Investment | Oct 26 - 28, 2009 | Country Summits |
| Washington | Oct 19 - 21, 2009 | Country Summits |
| Global Wealth Management | Oct 05 - 7, 2009 | Financial Services / Exchanges |
