The Real Deal Miami

U.S. home sales to rebound: Toll Brothers

December 09, 2010 02:30PM

The U.S. housing market will rebound in 2012, according to Douglas Yearley, CEO of Toll Brothers, the largest builder of luxury homes in the country. “The recovery is here to stay,” Yearley told Bloomberg News. “I think 2011 will be an improving year, but I think 2012 will be a big year for us.” The housing market will avoid a double-dip after reaching a bottom last year, Yearley added. According to the National Association of Realtors, pending sales of U.S. homes unexpectedly rose 10 percent in October from a month earlier. Yearly also noted that Toll Brothers is seeing more “quality” visitors at its sales offices, a sign that buyers are more serious about making purchases. “The number of visitors isn’t up,” he said. “But the quality of that visitor — the questions they’re asking, their level of interest in a new home — is.” [Bloomberg]