Toll Brothers, which builds houses and apartments in

Toll Brothers, which builds houses and apartments in 22 states, reported in November that customers backed out of purchase contracts at the highest rate the company has ever seen. While most conventional developments received ratings of “F,” “F-minus,” or “F-minus-minus” from chief executive Robert Toll, the company’s best performers were its “city living” developments in the New Jersey suburbs of New York and similar projects in Princeton, New Jersey; Delaware; and Connecticut. They received grades of “B” or “B-plus.” In the quarter that ended Oct. 31, Toll Brothers said 39 percent of customers backed out of their orders, according to The New York Times.
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