Company: HOVVB
Filing Date: 2025-02-28
Form Type: 10-Q
Source: 0001753926-25-000367
Chunk: 12

Company: HOVNANIAN ENTERPRISES INC
Filing Date: 2025-02-28
Form: 10-Q
Item: Part I, Item 2
Chunk 12
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4,475

84.6
% 

 Financial services  

16,942

15,268

1,674

11.0
% 

 Total revenues  
 
$
673,623

$
594,196

$
79,427

13.4
%    

Homebuilding: Sale of Homes

For the three months ended January 31, 2025, sale of homes revenues increased 12.8% compared to the same period in the prior year. The sale of homes revenue increased due to a 18.0% increase in homes delivered, partially offset by a 4.4% decrease in the average price per home for the three months ended January 31, 2025, compared with the prior year period. The average price per home decreased to $515,880 in the three months ended January 31, 2025 from $539,639 in the three months ended January 31, 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 January 31, 

 (Dollars in thousands, except average sales price)  

2025 

2024 

 % Change  

Consolidated total: 

 Housing revenues  
 
$
646,914

$
573,636

12.8
% 

 Homes delivered  

1,254

1,063

18.0
% 

 Average sales price  
 
$
515,880

$
539,639

(4.4
)% 

Unconsolidated joint ventures: (1) 

 Housing revenues  
 
$
131,776

$
125,209

5.2
% 

 Homes delivered  

197

206

(4.4
)% 

 Average sales price  
 
$
668,914

$
607,811

10.1
%    

(1) Represents housing revenues and home deliveries for our unconsolidated homebuilding joint ventures for the period. We provide this data as a supplement to our consolidated results as an indicator of the volume managed in our unconsolidated joint ventures. See Note 18 to the Condensed Consolidated Financial Statements included elsewhere in this