Toll Brothers Can Thank Millennials for Luxury Homes Bump. They’re Using Boomer Money.
Toll Brothers said on Wednesday that about 30% of its customers are first-time buyers, many of whom are millennials. The builder’s traditional luxury properties represented the majority of its home sales by dollar amount in the second quarter, Toll Brothers CEO Douglas C. Yearley, Jr. said on a Wednesday conference call after reporting better-than-expected earnings the day before.