- Homes Prices Drop 2% to Post-Crisis Lows: Case-Shiller
- Spain to Go to Market to Fund Banks, Regions
- JPMorgan Sells Good Assets to Offset 'London Whale'
- Euro Zone Bank Safety Net Leaves Holes Unplugged
- State Fund Rejects ‘Unaccountable’ Chesapeake Board
- Madoff Case Is Paying Off for Trustee ($850 an Hour)
- Cool Jobs: From Gold Stacker to Bed Tester
- Roubini’s Das: Spain Needs a Bailout ‘Sooner or Later’
- Trump Presses Obama to Release College Transcripts
MOST SHARED
- Facebook Could Pay Over $1 Billion for Opera: Analysts
- Vertex Corrects Cystic Fibrosis Data; Shares Tumble
- Spreading Around Your Retirement Wealth Tax Free
- Roubini’s Das: Spain Needs a Bailout ‘Sooner or Later’
- Homes Prices Drop 2% to Post-Crisis Lows: Case-Shiller
- Stocks to Watch: JCP, VRTX, CHK, FB & More
- Buffett-Backed BYD Defends Electric Car After Accident
- CNBC Poll: What's a Fair Inheritance Tax
- Euro Sinks, China Talks Tough, Dollar Gets a Lift
- Which Policies Could Hold Back US Growth?
MOST POPULAR
HOT ON FACEBOOK
Luxury Leading Way in Housing Rebound: Toll CEO
Text Size 
Special to CNBC.com
 |
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 [TOL
Loading...
()
] 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.
"I think in pockets we’ll see some success," Yearley said. "The good news is pricing has definitely stabilized. We’re not seeing price reductions. In some isolated cases, we have some pricing power, we’re able to raise prices."
He added that after five or six years of waiting, buyers want "to move on with their lives and I think they’re done trying to time the perfect point to get in the market. They’re taking advantage of great interest rates. Affordability’s at an all-time high…It’s helping us but we have a long ways to go."
- Solving Europe’s crisis is really up to the politicians and not the economists says CNBC’s Kelly Evans.
- Take a look at the most luxurious golf homes currently for sale... and see if they fit your budget.
- Even with many people still unemployed there are some jobs that can’t be filled. Take a look.
- Looking for a very unusual dining experience? You might even be taken to another planet to eat.
- People who travel a lot are often at higher risk of getting sick. Here are some tips to stay healthy.
- Our financial system is still not designed to meet the needs of poor families, says this author.
Data is a real-time snapshot *Data is delayed at least 15 minutes
