Aug
23
Forget Starter Houses, U.S. Millennials Are Buying Luxury Homes
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Toll says 23% of its sales this year were to younger buyers
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Builder aiming for the ‘more-affluent edge,’ CEO Yearley says
Millennials in the U.S. were so slow to become homeowners that it was beginning to look like they’d rent forever. Now they’re a force in the market for new high-end houses.
Toll Brothers Inc., the largest U.S. luxury-home builder, said Tuesday that 23 percent of its sales this year were to customers with at least one buyer age 35 or younger. That was a surprise, given that the company’s average contract price in the three months through July was $837,300…
Forget Starter Houses, U.S. Millennials Are Buying Luxury Homes
