SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* REINHART PETER S (Last) (First) (Middle) 10 HIGHWAY 35 (Street) RED BANK NJ 07701 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol HOVNANIAN ENTERPRISES INC [ HOV ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Sr. VP/General Counsel
	3. Date of Earliest Transaction (Month/Day/Year) 01/05/2004
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	01/05/2004		M		10,000	A	$5.125	19,076	D
Class A Common Stock	01/05/2004		M		7,500	A	$5.8125	26,576	D
Class A Common Stock	01/05/2004		M		5,000	A	$6.5	31,576	D
Class A Common Stock	01/05/2004		M		2,500	A	$8.6875	34,076	D
Class A Common Stock	01/05/2004		M		1,250	A	$6.5625	35,326	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (right to buy)	$5.125	01/05/2004		M			10,000	(1)	05/04/2005	Class A Common Stock	10,000	(2)	0	D
Employee Stock Option (right to buy)	$5.8125	01/05/2004		M			7,500	(3)	07/19/2005	Class A Common Stock	7,500	(2)	0	D
Employee Stock Option (right to buy)	$6.5	01/05/2004		M			5,000	(4)	02/12/2007	Class A Common Stock	5,000	(2)	0	D
Employee Stock Option (right to buy)	$8.6875	01/05/2004		M			2,500	(5)	05/13/2008	Class A Common Stock	2,500	(2)	5,000	D
Employee Stock Option (right to buy)	$6.5625	01/05/2004		M			1,250	(6)	08/27/2010	Class A Common Stock	1,250	(2)	8,750	D

Explanation of Responses:

1. Immediate.

2. N/A

3. The option vests in three equal annual installments beginning on July 20, 1996.

4. The option vests in three equal annual installments beginning on February 13, 1998.

5. The option vests in four equal annual installments beginning on May 14, 2001.

6. The option vests in four equal annual installments beginning on August 28, 2003.

Remarks:

	Nancy A. Marrazzo	01/07/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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