Wells Fargo downgrades Toll Brothers as new home demand slides

Econ & Housing

Toll Brothers won’t be able to sidestep a rapid change in the housing market, according to Wells Fargo. After booming in the second half of 2020 and 2021, the homebuilding market appears to be coming to a halt. Builder sentiment fell sharply in June , and mortgage applications have been cut in half as mortgage…

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