Hovnanian Enterprises
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Hovnanian Enterprises, Inc. NYSE: HOV incorporated in 1967, designs, constructs, markets and sells single-family detached homes, attached townhomes and condominiums, mid-rise and high-rise condominiums, urban infill and active adult homes in planned residential developments in the United States. The Company consists of two operating groups: homebuilding and financial services and recently enter the Fortune 500.
Hovnanian builds about 14,600 homes a year, with base prices ranging from $46,000 to $1,350,000 and averaging about $280,000. It operates mainly in the northeastern US, California, and the Washington, DC, area, but also in the Carolinas, Texas, and Florida. The Hovnanian family controls about 80% of the company shares (30% of the shares are worth $1 billion in 2005).
The company was founded in 1967 in the United States by Kevork Hovnanian originally from Armenia.
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