Bob Toll comments were regarding the Wash DC/NOVA markets and he said that some communities that were seeing 0 to 1 sales a week were seeing 1-3 sales a week.
Therefore all of housing is saved.
There quarterly report is insanely bad, shedding land, stopped buybacks (presumably to save cash, I’ll have to listen to the CC), and order cancellations are spiking.
In the past, Bob Toll claimed their business was more immune than other homebuilders due to their market niche. Now the truth is coming out, they aren’t immune, the same exact thing that happened to every homebuilder is happening to them, high cancellations and low sales.
