Toll Has First Profit in 11 Quarters, Raises House Price Estimate for Year

"Toll Brothers recorded a $26.5 million gain from a change in U.S. law allowing builders to use losses to recoup taxes on profits going back as many as five years. The benefit helped the company end a streak of 11 straight quarterly losses as housing demand slumps. Homebuilder orders have plunged since an $8,000 federal tax credit for buyers expired on April 30."