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Hovnanian Enterprises, Inc. (NYSE: HOV) is a United
States real estate company involved in every aspect of marketing homes,
including design, construction and sales. The company works with individual
detached housing as well as higher-occupancy dwellings, including townhouses,
condominiums and retirement homes. In most cases, the company acquires and
develops the land on which these developments are built, but in some geographic
regions, Hovnanian offers to build their proprietary house designs on private land.
The company consists of two operating groups, homebuilding and financial
services, and recently entered the Fortune 500.
Despite some recent financial difficulties due to
the 2008–2009 recession and financial crisis, Hovnanian Enterprises remains the
sixth largest American homebuilder and the largest homebuilder in New Jersey,
as of September 2009.
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