August 5, 2005

Further Signs of Chill in the Outer Suburbs

Robert Toll, chairman and chief executive of Toll Brothers, during a conference call Aug. 3 with analysts, said "we do see cooling in some local markets that were red hot a few months ago." Specically demand for McMansions in Las Vegas, New Jersey and the Washington D.C. area have relaxed a bit. Orders for luxury homes that sold in a matter of days or hours now take a couple of weeks, he said.

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