It's a great recipe for a strong housing market. Luxury home builder Toll Brothers (TOL) said Tuesday that demand for its houses was strong across the country -- the company signed a record number of contracts last quarter. Higher rates do not seem to be an issue for prospective buyers, mainly because the job market remains strong and housing prices are rising. And Toll Brothers expects that prices for the current quarter will range between $840,000 and $870,000. Shares of Toll Brothers surged more than 11% on the solid earnings Tuesday -- but the stock is still down 20% for the year.

Source: CNN August 21, 2018 14:37 UTC