https://www.bizjournals.com/philadel...ng-market.html
“Despite the uncertainty, certain markets have performed well. While prices in some Western markets soared early in the pandemic and are now dropping, Yearley highlighted Philadelphia, New Jersey, Atlanta, Massachusetts, Michigan, Virginia and Florida as the company’s best performing geographies.”
Even with their Jewelers’ Row debacle, sounds like Toll Bros still considers the Philly market to be relatively competitive. I honestly think the drop in permits in 2022 was almost all due to the tax abatement ending. The graph in the Inky article showed permits for 2021 were insanely high compared to other years. Considering a lot of those permits were probably rushed rather early, I suspect a portion would have otherwise been pulled this year, meaning the overall market is probably actually relatively strong.