Company: HOVVB
Filing Date: 2025-12-22
Form Type: 10-K
Source: 0001753926-25-001938
Chunk: 18

Company: HOVNANIAN ENTERPRISES INC
Filing Date: 2025-12-22
Form: 10-K
Item: Item 1
Chunk 18
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 sell virtually all of the loans and loan-servicing rights that we originate within a short period of time. Loans are sold either individually or against forward commitments to institutional investors, including banks, mortgage banking firms, and savings and loan associations.

Residential Development Activities

Our residential development activities include site planning and engineering, obtaining environmental and other regulatory approvals and constructing roads, sewer, water, and drainage facilities, recreational facilities, and other amenities and marketing and selling homes. These activities are performed by our associates, together with independent architects, consultants and contractors. Our associates also conduct long-term planning of communities. A residential development generally includes single-family detached homes and/or a number of residential buildings containing from two to 24 individual homes per building, together with recreational amenities, such as swimming pools, tennis courts, clubhouses, open areas and tot lots. 

Housing Revenues

Information on housing revenues, homes delivered and average sales price by segment for the year ended October 31, 2025, is set forth below:

(Housing revenues in thousands)

Housing Revenues

Homes Delivered

Average Sales Price

 Northeast 

$
1,146,746

1,968

$
582,696

 Southeast 

349,448

704

496,375

 West 

1,356,714

2,824

480,423

 Consolidated total 

$
2,852,908

5,496

$
519,088

Unconsolidated joint ventures(1) 

$
621,785

935

$
665,011

(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 20 to the Consolidated Financial Statements included elsewhere in this Annual Report on Form 10-K for a further discussion of our unconsolidated joint ventures. 

Net Sales Contracts 

 Information on the dollar value of net sales contracts by segment for the year ended October 31, 2025 is set forth below:

(In thousands)

Net Sales Contracts

 Northeast 

$
983,961

 Southeast 

324,393

 West 

1,290,351

 Consolidated total 

$
2,598,705

Unconsolidated joint ventures(1) 

$
675,853

(1) Represents net contract dollars for our unconsolidated homebuilding joint ventures for the period. We provide this data as