1435 ET - Toll Brothers says it ended 3Q with a backlog of $6.38 billion across 5,492 units. That's down from the $7.07 billion and 6,769 units it ended 3Q with a year earlier. Notably, the average price of a home in its backlog is up to $1.16 million, compared with $1.04 million a year ago. The homes in the current backlog are higher margin, which "is very comforting for us," CEO Douglas Yearley says on a call with analysts. Despite the lower backlog, Toll is content with the growth in community count that it has projected for 2026, the CEO says. "We just have terrific land and terrific communities coming, so it's all good," Yearley says. (dean.seal@wsj.com)
(END) Dow Jones Newswires
August 20, 2025 14:35 ET (18:35 GMT)
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