Toll Brothers Profit Jumps as Buyers Continue Spending on Luxury Homes

Home builder has benefited from low housing inventory and strong activity among affluent consumers

Toll Brothers Inc.’s profit rose 30% in its latest quarter as the luxury home builder reported strong growth in deliveries and continued to reach deals with customers at a rapid clip.

Toll, one of the nation’s largest builders of high-end homes, has benefited from low housing inventory and strong activity among affluent consumers willing to pay a premium to snatch up properties.

The...