Toll Brothers Inc. raised its expectations for profit margins for its full fiscal year as lower mortgage rates sparked demand for the company’s luxury homes.

• Toll projects deliveries of 10,650 to 10,750 homes in its full fiscal year, compared with its previous forecast for 10,400 to 10,800 deliveries, according to a statement Tuesday. The company expects a full-year adjusted gross margin on home sales of 28.3%, up from its earlier estimate of 28%.

Canada’s housing minister says the government’s efforts to ramp up homebuilding may help bring prices down in some markets, even though that’s not the objective.

Sean Fraser said the government’s intention is to improve affordability over time, as workers’ wages rise and it implements its strategy to create more townhouses, fourplexes and apartments.

“It’s not my goal to bring down housing prices. My goal is to build more supply at prices that people can afford,” he said in an interview.

Vaughan, Ontario, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Empire Communities, an award-winning residential homebuilder in Canada and the United States is proud to announce that its standard home model featuring ERTH360 Air enhancements has achieved the rigorous clean airflow requirements of ASHRAE Standard 241 — the new high bar for infection resiliency. This first-of-its-kind achievement is a testament to Empire's commitment to providing homes with the highest standards of indoor health and sustainability. ASHRAE Standard 241, Control of Infectious Aerosols, is a landmark standard published in July 2023 and applies to all building types, commercial and residential.

The clean air performance of Empire's standard home with ERTH360 Air was evaluated and verified to meet the standard's targets using a new test method that ASHRAE Standard 241 introduced to the industry, known as 'air tracing'. Poppy, a venture-backed company based in San Francisco, has pioneered air tracing as a rapid, low-cost commissioning / retro-commissioning technology and service for any building. The Poppy Certify program has been used in over 1,000 locations globally, promoting gold-standard health measures while reducing energy consumption and carbon emissions. Empire's attainment of Poppy Certify status underscores the company's commitment to creating a healthier and safer environment for its homeowners.

About Empire Communities: Empire Communities is a vertically-integrated homebuilder involved in all sectors of the new home-building industry, including both low-rise and high-rise built forms. Celebrating over 30 years of building inspiring new places to live, Empire has an established tradition of creating prestigious award-winning new homes, communities and amenities, and has earned a reputation for outstanding attention to detail and customer service. Since its inception in 1993, Empire has built and sold over 35,000 new homes and condos. Today, Empire is one of North America's largest privately held integrated residential homebuilders, with current communities in Toronto, Southwestern Ontario, Texas, Georgia, North and South Carolina, and Tennessee.

ATLANTA, June 21, 2024 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH) announced its newest community in the Atlanta market, Conners Landing at Mirror Lake, located in the charming town of Villa Rica. Homeowners will fall in love with the community, its amenities and all that Villa Rica has to offer.

Located just minutes from the beloved Mirror Lake Golf Club and downtown Villa Rica, residents of Conners Landing at Mirror Lake will never run out of things to do! Inside the community, Conners Landing at Mirror Lake will boast a beautiful park that will feature a children's playground, pavilion, grills and benches (scheduled to open in Fall 2024).

"Opening a new community in Villa Rica has been truly amazing. The city's growth, fueled by its closeness to Atlanta, provides an unparalleled opportunity for a better quality of life," stated Mark Murti, Vice President of Sales at LGI Homes.

About LGI Homes
Headquartered in The Woodlands, Texas, LGI Homes, Inc. is a pioneer in the homebuilding industry, successfully applying an innovative and systematic approach to the design, construction and sale of homes across 36 markets in 21 states. As one of America's fastest growing companies, LGI Homes has closed over 70,000 homes since its founding in 2003 and has delivered profitable financial results every year. Nationally recognized for its quality construction and exceptional customer service, LGI Homes was named to Newsweek's list of America's Most Trustworthy Companies for the second consecutive year. LGI Homes' commitment to excellence extends to its more than 1,000 employees, earning the Company numerous workplace awards at the local, state and national level, including the Top Workplaces USA 2024 Award. For more information about LGI Homes and its unique operating model focused on making the dream of homeownership a reality for families across the nation, please visit the Company's website at www.LGIHomes.com.

JACKSONVILLE, Fla., June 19, 2024 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH) today introduced its newest community in the Jacksonville market, Westport Landing. This community hosts gorgeous new-construction homes and on-site amenities that the whole family can enjoy.

Located just minutes from lively downtown Jacksonville, families will have plenty to do both inside and outside of the community. Placed conveniently at the front of the neighborhood are the dog park and children's playground, which are sure to provide hours of endless fun. Residents will also have access to the Villages of Westport Community Center, offering a pool, basketball courts, a playground and a multi-use field.

About LGI Homes
Headquartered in The Woodlands, Texas, LGI Homes, Inc. is a pioneer in the homebuilding industry, successfully applying an innovative and systematic approach to the design, construction and sale of homes across 36 markets in 21 states. As one of America's fastest growing companies, LGI Homes has closed over 70,000 homes since its founding in 2003 and has delivered profitable financial results every year. Nationally recognized for its quality construction and exceptional customer service, LGI Homes was named to Newsweek's list of America's Most Trustworthy Companies for the second consecutive year. LGI Homes' commitment to excellence extends to its more than 1,000 employees, earning the Company numerous workplace awards at the local, state and national level, including the Top Workplaces USA 2024 Award. For more information about LGI Homes and its unique operating model focused on making the dream of homeownership a reality for families across the nation, please visit the Company's website at www.lgihomes.com.

FT. WASHINGTON, Pa., May 29, 2024 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation's leading builder of luxury homes, today announced the Company's Pennsylvania Division was honored with multiple awards at the 2024 Best in Pennsylvania Living Awards, recently held at The Alloy Hotel in King of Prussia, Pennsylvania.

Presented by the Home Builder's Association of Bucks and Montgomery Counties and Home Builder's Association of Chester and Delaware Counties, the Best in Pennsylvania Living Awards is a best-in-class competition recognizing excellence for home building, design, and associate services. The Toll Brothers Pennsylvania Division was recognized for outstanding communities, landscaping, interior and architectural design, plus best-in-class individual and team performance.

In addition to the community awards, the Toll Brothers teams were honored for their professional achievements, outstanding performance, and leadership in onsite and online sales and Design Studio consultations. Twelve members of the Toll Brothers team were also recognized for achieving gold and platinum level home sales. To see the full list of winners and to learn more about the awards celebration, visit BPLAwards.com.

The Pennsylvania Division of Toll Brothers was also recently recognized at the Nationals, the home building industry's highly anticipated national awards competition presented by the National Association of Home Builders (NAHB). Toll Brothers' Pennsylvania Division won the Silver Award for Best Interior Merchandising of a Model Home Priced $500,000 to $600,000 for the Knox Elite at Overlook at Town Center, and the flagship Toll Brothers Pennsylvania Design Studio was recognized with the Best Design Center award and the coveted ASID Crystal Award for Best Commercial Design – Retail Space.

For more information on Toll Brothers communities throughout Pennsylvania, visit https://www.TollBrothers.com/Pennsylvania.

Toll Brothers Inc. raised its fiscal full-year outlook as the luxury builder reported stronger-than-expected orders with buyers, starved for inventory of previously owned properties, flocking to newly built homes.

• For the three months through April, purchase contracts rose 30% from the same period a year earlier to 3,041, the company said Tuesday in a statement. Analysts in a Bloomberg survey expected 3,004 orders on average.

THE WOODLANDS, Texas, June 07, 2024 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH) commemorates National Homeownership Month.

Since 2003, LGI Homes has recognized National Homeownership Month every June by promoting the benefits of homeownership and highlighting the Company's unique value proposition to first-time homebuyers.

"At LGI Homes, we are proud to have helped over 70,000 families achieve the dream of homeownership," said Eric Lipar, Chairman and Chief Executive Officer of LGI Homes. "Each year, we commemorate National Homeownership Month by educating buyers on the financial and personal benefits homeownership brings. Despite the current challenges to affordability, we continue to focus our efforts on making homeownership affordable and attainable for buyers across the nation."

Throughout the month of June, LGI Homes will be celebrating its current homeowners by featuring their stories and testimonials and sharing what they love about owning an LGI Home.

About LGI Homes, Inc.
Headquartered in The Woodlands, Texas, LGI Homes, Inc. is a pioneer in the homebuilding industry, successfully applying an innovative and systematic approach to the design, construction and sale of homes across 36 markets in 21 states. As one of America's fastest growing companies, LGI Homes has closed over 70,000 homes since its founding in 2003 and has delivered profitable financial results every year. Nationally recognized for its quality construction and exceptional customer service, LGI Homes was named to Newsweek's list of the World's Most Trustworthy Companies. LGI Homes' commitment to excellence extends to its more than 1,000 employees, earning the Company numerous workplace awards at the local, state and national level, including the Top Workplaces USA 2024 Award. For more information about LGI Homes and its unique operating model focused on making the dream of homeownership a reality for families across the nation, please visit the Company's website at www.lgihomes.com.

Canada is on track to add more newcomers with construction skills than in recent years, an early sign that a targeted immigration program is working — though still not quickly enough to close a massive housing supply gap.

Admissions of permanent residents with trades skills rose 29% from January through March from the average quarterly rate in 2023, according to government data obtained by Bloomberg. If that pace is sustained, Canada will grant residency to some 17,800 skilled construction workers this year.

The increase is solely driven by recent immigration policy changes to bring in more tradespeople to ramp up homebuilding. It’s crucial to Prime Minister Justin Trudeau’s goal to more than double the pace of construction to add 3.9 million homes by 2031 as he tries to calm housing angst and reverse waning popularity.

A Brooklyn neighborhood’s residential development boom is nearing an end, as a condo tower opens at one of the final sites on the Williamsburg waterfront.

Sales begin Wednesday at One Domino Square, a 39-story tower just north of the Williamsburg Bridge. It’s the sole condo offering in the 11-acre (4.5-hectare) complex that Two Trees Management has been building around the historic Domino Sugar refinery, which was converted into offices.

The tower’s debut is the latest step in the transformation of the onetime industrial area, made possible by a 2005 rezoning that cleared the way for construction of some of Brooklyn’s most expensive housing. Earlier efforts in Williamsburg had been focused closer to the Bedford Avenue L train stop, or farther north along the East River. Two of those waterfront projects — Toll Brothers’ Northside Piers and the Edge by Douglaston Development — were finished in 2007 and 2009, respectively.

THE WOODLANDS, Texas, March 27, 2024 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH), one of the nation's largest and most recognized homebuilders, announced today that they have been awarded the prestigious Platinum Builder Award by 2-10 Home Buyers Warranty, recognizing their exceptional leadership, innovation, and excellence in new construction throughout 2023.

The 2-10 Builder Achievement Awards Program distinguishes builders across three tiers: Platinum, Premiere, and Select. LGI Homes earned this award for their leadership in the new-construction industry, for introducing innovative home designs, marketing strategies, and construction technologies. LGI Homes has now received the Platinum Builder Award every year since the program began in 2018.

To learn more about the Builder Achievement Awards Program, visit www.2-10.com/builders-warranty/builder-awards/.