"Toll Brothers announced on Wednesday that Karl Mistry will be the company's next CEO, replacing Doug Yearley, who will transition to the role of Executive Chairman of the Board on March 30. Mistry will take the helm at a time when Toll Brothers is leaning on its resilient, high-income buyers to navigate homebuilding's headwinds. He currently serves as Executive Vice President and oversees the company's Eastern operations across 15 states."
"Pennsylvania-based Toll Brothers has the highest average sale price $972,000 as of Q4 2025 of any public homebuilder nationally, and is using this to their advantage. As the entry-level buyer segment sours, Toll Brothers is leaning on its high-income buyers, who are less affected by affordability constraints and economic uncertainty. Over 70% of Toll Brothers' business serves move-up and empty-nester segments, with the remainder focused on affluent, older first-time buyers, many of whom pay all-cash to purchase their dream home."
Karl Mistry will become Toll Brothers' CEO on March 30 while Doug Yearley transitions to Executive Chairman. Mistry oversees Eastern operations across 15 states, joined 22 years ago after earning a Master's from Cornell, and rose through the company's regional leadership ranks. Yearley has more than 35 years with the company, served as CEO since 2010 and Chairman since 2018, and will continue to lead strategic initiatives as Executive Chairman. Pennsylvania-based Toll Brothers had a Q4 2025 average sale price of $972,000 and relies on affluent, high-income buyers; over 70% of sales serve move-up and empty-nester segments, with many buyers purchasing all-cash.
Read at www.housingwire.com
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