Hovnanian Enterprises Inc., the worst-performing U.S. homebuilder this year, reported a wider loss for its fiscal first quarter as inclement weather extended construction times and sales demand slowed.
Americans snapped up previously owned homes in May in the biggest monthly sales gain in almost three years, a sign the residential real estate market is regaining its footing after a stumble early in the year.
Hovnanian Enterprises Inc., the best-performing U.S. homebuilder stock in the past year, reported a profit for its fiscal third quarter as sales and prices increased amid a nationwide housing recovery.
Hovnanian Enterprises Inc., the largest homebuilder in New Jersey, reported a third-quarter loss that was bigger than analysts expected as sales fell following the expiration of a homebuyer tax credit.
Buyers swarmed builder lots in May to propel the biggest gain in sales of new homes in 22 years, while consumer confidence this month was the strongest since 2008, showing how an improving U.S. job market is giving the economy a much-needed lift.
Hovnanian Enterprises Inc., the best-performing U.S. homebuilder stock in the past 12 months, reported a narrower loss for its fiscal first quarter as sales and orders increased amid a housing rebound.