Hovnanian 3Q Contracts Up 35%

Red Bank, NJ, August 5–Luxury home builder Hovnanian Enterprises said the dollar value of contracts in the third quarter ended July 31 rose 34.8 percent to $1.7 billion
from $1.3 billion a year ago.

The number of contracts rose 16.6 percent to 4,865 from 4,173 a year ago.

The company said the number of contracts in the quarter declined in the Northeast while the dollar value rose, indicating a shift to higher-priced homes.