The U. S. luxury homebuilder, Toll Brothers Inc. posted lower than expected quarterly loss for the first quarter of the fiscal 2010, with the recovering housing market.

The Company reported a net loss of $40.8 million for the first quarter of 2010 compared to the loss of $88.9 million for the same period in previous financial year. Further the company reported declining revenue of 20% to $326.7 million compared to $409 million in previous year. Company is facing a decline in the cancellation rate, simultaneously signed new contracts worth $292.1 million.

According to the officials of the company, the housing market recovered after several years following the downturn since 1980's and early 1990's. However the recovery is expected in a similar pattern, with a vision that the housing market might be treading into the untested waters, but it will learn to cross it soon.

During the quarter, company took the advantage of low land prices and decided to make deals worth 3,000 lots for the future homes. Considering the recent shopping activities, company expects to sell homes in the range of 2,100 to 2,750 at an average price of $540,00 to $560,000.