HOVNP

Hovnanian Enterprises, Inc. operates as a residential homebuilder in the United States, designing, constructing, marketing, and selling single-family detached homes, attached townhomes, condominiums, and mid-rise and high-rise housing. Founded in 1959 and headquartered in Matawan, New Jersey, the company conducts its homebuilding operations through wholly-owned subsidiaries across multiple states, primarily in the Northeast, Mid-Atlantic, Southeast, Texas, and California regions. Hovnanian operates under the trade names K. Hovnanian Homes, Parkwood Builders, Brighton Homes, Hometown America, and others, targeting various buyer segments including first-time buyers, move-up buyers, luxury buyers, active adults, and empty nesters. The company offers homes at various price points and provides mortgage banking and title services through its financial services operations. As of fiscal year 2023, Hovnanian delivered approximately 4,000 homes with revenues of roughly $2 billion. The company has significantly reduced its debt burden in recent years through refinancing initiatives and strategic financial restructuring, strengthening its balance sheet. Hovnanian focuses on land-light strategies, controlling land through options rather than outright purchases to minimize inventory risk. The company continues to adapt to market conditions by adjusting community count and product mix while maintaining operational efficiency across its diversified geographic footprint.