Company: HOVVB
Filing Date: 2025-05-30
Form Type: 10-Q
Source: 0001753926-25-000907
Chunk: 9

Company: HOVNANIAN ENTERPRISES INC
Filing Date: 2025-05-30
Form: 10-Q
Item: Part I, Item 2
Chunk 9
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29   

Homebuilding: Sale of Homes

For the three months ended April 30, 2025, sale of homes revenues decreased 5.3% compared to the same period in the prior year. The sale of homes revenue decreased due to a 5.5% decrease in the average price per home for the three months ended April 30, 2025 as compared to the three months ended April 30, 2024. The average price per home decreased to $506,081 in the three months ended April 30, 2025 from $535,408 in the three months ended April 30, 2024. For the six months ended April 30, 2025, sale of homes revenue increased
2.9% compared to the same period in the prior year. The sale of homes revenue
increased due to an 8.2% increase in homes delivered, partially offset by a
4.9% decrease in average price per home for the six months ended April 30, 2025
compared to the same period in the prior year. The average price per home decreased to $510,921 in the six months ended April 30, 2025 from $537,325 in the six months ended April 30, 2024. The increase in deliveries was primarily the result of an increase in community count. The decrease in average price was the result of the geographic and community mix of our deliveries. For further detail on changes in segment revenues see “Homebuilding: Operations by Segment” below. For further detail on land sales and other revenues, see “Homebuilding: Land Sales and Other Revenues” below.

Information on the sale of homes is set forth in the table below:

Three Months Ended April 30, 

Six Months Ended April 30,

 (Dollars in thousands, except average sales price)  

2025 

2024 

 % Change  

2025

2024

% Change

Consolidated total: 

 Housing revenues  
 
$
650,314

$
686,929

(5.3)
%

$
1,297,228

$
1,260,565

2.9
% 

 Homes delivered  

1,285

1,283

0.2
%

2,539

2,346

8.2
% 

 Average sales price  
 
$
506,081

$
535,408

(5.5)
%