The housing market is showing "signs of improvement" with help from luxury home sales, Toll Brothers Chief Executive Douglas Yearley told CNBC Thursday.
"There are some signs luxury is leading us out of this a little bit," he said. "We're clearly off the bottom."
But while Toll is a builder of those luxury homes, the CEO expects sales the rest of the year to be relatively flat. That's despite 60 percent of Toll sales coming from the northeast corridor of Boston to Washington, D.C., which was not hit with the same housing problems as Las Vegas and Florida, among others.