World News

Toll Brothers says 11 home sales in California impacted by coronavirus

(Reuters) – Home builder Toll Brothers Inc <TOL.N> said on Wednesday that the coronavirus outbreak in China had led to shortages of lighting fixtures and small appliances, forcing it to delay the sales of 11 homes in California, one of its biggest markets.

“We believe 11 closings in California have been pushed out, we hope to the second quarter, due to the virus,” Chief Executive Officer Douglas Yearley said on a post-earnings call.

The company had home building deliveries of 1,611 in the first quarter ended Jan 31.

Toll has been under pressure from President Donald Trump’s trade war, which has kept affluent Chinese from buying homes in California.

The company’s homes in the state can cost more than $2 million.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Anil D’Silva and Shailesh Kuber)