View Filing Data

Cash and cash equivalents

$ 152,578

$ 253,745

Restricted cash and cash equivalents

26,900

26,500

Inventories:

Total assets

2,552,740

2,602,298

^[1]

Preferred stock, $0.01 par value - authorized 100,000 shares; issued and outstanding 5,600 shares with a liquidation preference of $140,000 at January 31, 2016 and at October 31, 2015

Total liabilities

2,695,880

2,730,382

^[1]

Stockholders’ equity deficit:

135,299

^[1]

Paid in capital – common stock

704,862

703,751

^[1]

Accumulated deficit

(869,537)

(853,364)

^[1]

Treasury stock – at cost

(115,360)

^[1]

Total stockholders’ equity deficit

(143,140)

(128,084)

^[1]

2,552,740

2,602,298

^[1]

Revolving credit agreement

47,000

^[1]

Accrued interest

29,172

40,388

^[1]

Total notes payable

1,750,699

1,935,635

^[1]

Financial services:

Income taxes receivable – including net deferred tax benefits

287,388

290,279

^[1]

Cash and cash equivalents

147,124

245,398

^[1]

Restricted cash and cash equivalents

6,865

7,299

^[1]

Inventories:

Sold and unsold homes and lots under development

1,127,416

1,307,850

^[1]

Land and land options held for future development or sale

186,503

214,503

^[1]

Consolidated inventory not owned

338,067

122,225

^[1]

Total inventories

1,651,986

1,644,578

^[1]

Investments in and advances to unconsolidated joint ventures

69,094

61,209

^[1]

Receivables, deposits and notes, net

69,629

70,349

^[1]

Property, plant and equipment, net

46,010

45,534

^[1]

Prepaid expenses and other assets

81,186

77,671

^[1]

Total assets

2,071,894

2,152,038

^[1]

Liabilities from inventory not owned

242,409

105,856

^[1]

Total liabilities

777,130

657,964

^[1]

Financial services:

Accounts payable and other liabilities

348,400

348,516

^[1]

Customers’ deposits

42,433

44,218

^[1]

Cash and cash equivalents

5,454

8,347

^[1]

Restricted cash and cash equivalents

20,072

19,223

^[1]

Mortgage loans held for sale at fair value

164,961

130,320

^[1]

Other assets

2,971

2,091

^[1]

Inventories:

Total assets

193,458

159,981

^[1]

Accounts payable and other liabilities

Total liabilities

168,051

136,783

^[1]

Financial services:

27,695

27,908

^[1]

Mortgage warehouse lines of credit

140,356

108,875

^[1]

Common Class A [Member]

Stockholders’ equity deficit:

Common stock

1,436

1,433

^[1]

Common Class B [Member]

Stockholders’ equity deficit:

Common stock

160

157

^[1]

Senior Secured Notes [Member]

Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]

981,716

981,346

^[1]

Senior Amortizing Notes [Member]

607,575

780,319

^[1]

Senior Exchangeable Notes [Member]

10,516

12,811

^[1]

Nonrecourse Mortgages [Member] | Mortgages [Member] | Homebuilding [Member]

74,720

73,771

^[1]

Nonrecourse Mortgages Secured By Operating Properties [Member] | Mortgages [Member] | Homebuilding [Member]

Secured debt

128,668

143,863

^[1]

Preferred stock, par value (in Dollars per share)

Secured debt

$ 15,220

$ 15,511

^[1]

[1]	Derived from the audited balance sheet as of October 31, 2015.

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($)
$ in Thousands

Jan. 31, 2016

Oct. 31, 2015

^[1]

$ 0.01

Preferred stock, shares authorized

100,000

Preferred stock, shares issued

5,600

Preferred stock, liquidation preference (in Dollars)

$ 140,000

Preferred stock, outstanding

5,600

Common Class A [Member]

Common stock, par value (in Dollars per share)

$ 0.01

Common stock, shares authorized

400,000,000

Common stock, shares issued

143,562,913

143,292,881

Common stock, shares held in Treasury

11,760,763

Common Class B [Member]

Common stock, par value (in Dollars per share)

$ 0.01

Common stock, shares authorized

60,000,000

Common stock, shares issued

16,009,727

15,676,829

Common stock, shares held in Treasury

691,748

[1]	Derived from the audited balance sheet as of October 31, 2015.

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

Jan. 31, 2016

Jan. 31, 2015

Total revenues

$ 575,605

$ 445,714

Inventory impairment loss and land option write-offs

11,681

2,230

Other interest

^[1],[2]

21,225

25,071

Total expenses

587,319

466,846

(Loss) income from unconsolidated joint ventures

(1,480)

1,452

Loss before income taxes

(13,194)

(19,680)

State and federal income tax provision (benefit):

Tax provision (benefit)

2,979

(5,304)

Net loss

$ (16,173)

$ (14,376)

Basic:

Loss per common share (in Dollars per share)

$ (0.11)

$ (0.10)

Weighted-average number of common shares outstanding (in Shares)

147,139

146,929

Assuming dilution:

Loss per common share (in Dollars per share)

$ (0.11)

$ (0.10)

Weighted-average number of common shares outstanding (in Shares)

147,139

146,929

Land sales and other revenues

Sale of homes

$ 556,775

$ 433,471

604

1,121

Total homebuilding

557,379

434,592

Total revenues

557,399

434,628

Cost of sales, excluding interest

464,146

354,812

Cost of sales interest

16,843

11,318

Inventory impairment loss and land option write-offs

11,681

2,230

Total cost of sales

492,670

368,360

Selling, general and administrative

47,504

47,646

Total homebuilding expenses

540,174

416,006

Total expenses

579,104

Loss before income taxes

8,364

13,531

Financial services

18,226

11,122

Total revenues

18,226

11,122

Corporate general and administrative

Financial services

8,215

7,317

16,321

16,908

Other interest

21,225

25,071

Other operations

1,384

1,544

Total expenses

8,215

Loss before income taxes

10,011

3,805

Internal Revenue Service (IRS) [Member]

State and federal income tax provision (benefit):

Tax provision (benefit)

(1,340)

(8,436)

State and Local Jurisdiction [Member]

State and federal income tax provision (benefit):

Tax provision (benefit)

$ 4,319

$ 3,132

[1]	Cash paid for interest, net of capitalized interest, is the sum of other interest expensed, as defined above, and interest paid by our mortgage and finance subsidiaries adjusted for the change in accrued interest on notes payable, which is calculated as follows:
[2]	Other interest expensed includes interest that does not qualify for interest capitalization because our assets that qualify for interest capitalization (inventory under development) do not exceed our debt. Also includes interest on completed homes and land in planning, which does not qualify for capitalization, and therefore is expensed.

Condensed Consolidated Statements of Equity (Unaudited) - 3 months ended Jan. 31, 2016 - USD ($)
$ in Thousands

Total

Preferred Stock [Member]

Additional Paid-in Capital [Member]

Retained Earnings [Member]

Treasury Stock [Member]

Common Class A [Member]

Common Stock [Member]

Common Class B [Member]

Common Stock [Member]

Balance, October 31, 2015 at Oct. 31, 2015

$ (128,084)

^[1]

$ 135,299

$ 703,751

$ (853,364)

$ (115,360)

$ 1,433

$ 157

Balance, October 31, 2015 (in Shares) at Oct. 31, 2015

5,600

131,532,118

14,985,081

Stock options, amortization and issuances

147

Restricted stock amortization, issuances and forfeitures

970

964

$ 3

Restricted stock amortization, issuances and forfeitures (in Shares)

270,032

332,898

Net loss

(16,173)

Balance, January 31, 2016 at Jan. 31, 2016

$ (143,140)

$ 135,299

$ 704,862

$ (869,537)

$ (115,360)

$ 1,436

$ 160

Balance, January 31, 2016 (in Shares) at Jan. 31, 2016

5,600

131,802,150

15,317,979

[1]	Derived from the audited balance sheet as of October 31, 2015.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Cash flows from operating activities:
Net loss	$ (16,173)	$ (14,376)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	865	849
Compensation from stock options and awards	1,545	3,500
Amortization of bond discounts and deferred financing costs	2,971	2,863
Gain on sale and retirement of property and assets	(81)	(168)
Loss (income) from unconsolidated joint ventures	1,480	(1,452)
Distributions of earnings from unconsolidated joint ventures		3,040
Inventory impairment and land option write-offs	11,681	2,230
Deferred income tax provision (benefit)	2,616	(5,945)
(Increase) decrease in assets:
Origination of mortgage loans	(275,617)	(200,713)
Sale of mortgage loans	240,976	202,283
Restricted cash, receivables, prepaids, deposits and other assets	(2,877)	(6,495)
Inventories	(19,089)	(139,896)
Increase (decrease) in liabilities:
State income tax payable	275	275
Customers’ deposits	(1,785)	(1,068)
Accounts payable, accrued interest and other accrued liabilities	(11,868)	(40,544)
Net cash used in operating activities	(65,081)	(195,617)
Cash flows from investing activities:
Proceeds from sale of property and assets	93	168
Purchase of property, equipment and other fixed assets and acquisitions	(1,253)	(879)
Investments in and advances to unconsolidated joint ventures	(11,497)	(11,735)
Distributions of capital from unconsolidated joint ventures	2,132	627
Net cash used in investing activities	(10,554)	(11,432)
Cash flows from financing activities:
Proceeds from mortgages and notes	57,592	30,908
Payments related to mortgages and notes	(72,985)	(34,227)
Proceeds from model sale leaseback financing programs	9,339
Payments related to model sale leaseback financing programs	(7,110)	(5,802)
Proceeds from land bank financing programs	138,314	3,131
Payments related to land bank financing programs	(3,240)	(10,334)
Proceeds from senior notes		247,938
Payments for senior notes and senior amortizing notes	(175,040)	(2,062)
Net proceeds (payments) related to mortgage warehouse lines of credit	31,481	(8,153)
Deferred financing cost from land bank financing program and note issuances	(3,883)	(5,011)
Net cash (used in) provided by financing activities	(25,532)	218,450
Net (decrease) increase in cash and cash equivalents	(101,167)	11,401
Cash and cash equivalents balance, beginning of period	253,745	261,898
Cash and cash equivalents balance, end of period	152,578	273,299
Cash paid during the period for:
Interest, net of capitalized interest (see Note 3 to the Condensed Consolidated Financial Statements)	33,000	26,489
Income taxes	88	366
Related to Mortgage Company [Member]
Cash flows from investing activities:
Decrease (Increase) in Restricted Cash	(81)	387
Related to Letters of Credit [Member]
Cash flows from investing activities:
Decrease (Increase) in Restricted Cash	$ 52
Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]
Cash flows from financing activities:
Proceeds from senior notes		$ 250,000

Note 1 - Basis of Presentation

3 Months Ended

Jan. 31, 2016

Basis of Accounting [Text Block]

1.	Basis of Presentation

Hovnanian Enterprises, Inc. and Subsidiaries (the “Company”, “we”, “us” or “our”) has reportable segments consisting of six Homebuilding segments (Northeast, Mid-Atlantic, Midwest, Southeast, Southwest and West) and the Financial Services segment (see Note 17).

The accompanying unaudited Condensed Consolidated Financial Statements include our accounts and those of all wholly-owned subsidiaries after elimination of all significant intercompany balances and transactions.

The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X and should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended October 31, 2015. In the opinion of management, all adjustments for interim periods presented have been made, which include normal recurring accruals and deferrals necessary for a fair presentation of our condensed consolidated financial position, results of operations and cash flows. The preparation of Condensed Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates, and these differences could have a significant impact on the Condensed Consolidated Financial Statements. Results for interim periods are not necessarily indicative of the results which might be expected for a full year. The balance sheet at October 31, 2015 has been derived from the audited Consolidated Financial Statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements.

Note 2 - Stock Compensation

3 Months Ended

Jan. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

2.	Stock Compensation

The Company’s total stock-based compensation expense was $1.5 million for the three months ended January 31, 2016, and $3.5 million ($2.6 million net of tax) for the three months ended January 31, 2015. Included in this total stock-based compensation expense was the vesting of stock options of $0.1 million and $0.9 million for the three months ended January 31, 2016 and 2015, respectively.

Note 3 - Interest

3 Months Ended

Jan. 31, 2016

Homebuilding Interest [Abstract]

Homebuilding Interest [Text Block]

3.	Interest

Interest costs incurred, expensed and capitalized were:

	Three Months Ended January 31,
(In thousands)	2016	2015

Interest capitalized at beginning of period	$123,898	$109,158
Plus interest incurred(1)	41,959	41,472
Less cost of sales interest expensed	16,843	11,318
Less other interest expensed(2)(3)	21,225	25,071
Less interest contributed to unconsolidated joint venture(4)	10,676	-
Interest capitalized at end of period(5)	$117,113	$114,241

(1)	Data does not include interest incurred by our mortgage and finance subsidiaries.

(2)

Other interest expensed includes interest that does not qualify for interest capitalization because our assets that qualify for interest capitalization (inventory under development) do not exceed our debt. Also includes interest on completed homes and land in planning, which does not qualify for capitalization, and therefore is expensed.

(3)	Cash paid for interest, net of capitalized interest, is the sum of other interest expensed, as defined above, and interest paid by our mortgage and finance subsidiaries adjusted for the change in accrued interest on notes payable, which is calculated as follows:

	Three Months Ended January 31,
(In thousands)	2016	2015
Other interest expensed	$21,225	$25,071
Interest paid by our mortgage and finance subsidiaries	559	408
Decrease in accrued interest	11,216	1,010
Cash paid for interest, net of capitalized interest	$33,000	$26,489

(4)	Represents capitalized interest which was included as part of the assets contributed to the joint venture the Company entered into in November 2015, as discussed in Note 18. There was no impact to the Condensed Consolidated Statement of Operations as a result of this transaction.

(5)	Capitalized interest amounts are shown gross before allocating any portion of impairments, if any, to capitalized interest.

Note 4 - Reduction of Inventory to Fair Value

3 Months Ended

Jan. 31, 2016

Inventory Impairments And Land Option Cost Write Offs [Abstract]

Inventory Impairments And Land Option Cost Write Offs [Text Block]

4.	Reduction of Inventory to Fair Value

We record impairment losses on inventories related to communities under development and held for future development when events and circumstances indicate that they may be impaired and the undiscounted cash flows estimated to be generated by those assets are less than their related carrying amounts. If the expected undiscounted cash flows are less than the carrying amount, then the community is written down to its fair value. We estimate the fair value of each impaired community by determining the present value of the estimated future cash flows at a discount rate commensurate with the risk of the respective community. In the first quarter of fiscal 2016, no discount rate was used as the six communities impaired during the quarter were land held for sale for which purchase offer prices were used to determine the fair value. In the first quarter of fiscal 2015, our discount rate used for the one impairment recorded was 19.0%. Should the estimates or expectations used in determining cash flows or fair value decrease or differ from current estimates in the future, we may need to recognize additional impairments.

During the three months ended January 31, 2016 and 2015, we evaluated inventories of all 512 and 488 communities under development and held for future development or sale, respectively, for impairment indicators through preparation and review of detailed budgets or other market indicators of impairment. We performed detailed impairment calculations during the three months ended January 31, 2016 and 2015 for eleven and five of those communities (i.e., those with a projected operating loss or other impairment indicators), respectively, with an aggregate carrying value of $46.2 million and $20.2 million, respectively. Of those communities tested for impairment during the three months ended January 31, 2016 and 2015, four and three communities with an aggregate carrying value of $17.3 million and $11.0 million, respectively, had undiscounted future cash flow that only exceeded the carrying amount by less than 20%. As a result of our impairment analysis, we recorded impairment losses for the three months ended January 31, 2016 and 2015, which is included in the Condensed Consolidated Statement of Operations on the line entitled “Homebuilding: Inventory impairment loss and land option write-offs” and deducted from inventory, of $9.7 million for six communities being held for sale mainly in the Midwest, with a pre-impairment value of $28.7 million, and $0.9 million for one community in the Southeast, with a pre-impairment value of $5.7 million, respectively. The inventory impaired in fiscal 2016 was written down to fair value based on recent offers received for the properties. The pre-impairment value represents the carrying value, net of prior period impairments, if any, at the time of recording the impairment.

The Condensed Consolidated Statement of Operations line entitled “Homebuilding: Inventory impairment loss and land option write-offs” also includes write-offs of options and approval, engineering and capitalized interest costs that we record when we redesign communities and/or abandon certain engineering costs and we do not exercise options in various locations because the communities' pro forma profitability is not projected to produce adequate returns on investment commensurate with the risk. Total aggregate write-offs related to these items were $2.0 million and $1.3 million for the three months ended January 31, 2016 and 2015, respectively. Occasionally, these write-offs are offset by recovered deposits (sometimes through legal action) that had been written off in a prior period as walk-away costs. Historically, these recoveries have not been significant in comparison to the total costs written off. The number of lots walked away from during the three months ended January 31, 2016 and 2015 were 1,256 and 1,700, respectively. The walk-aways were located in all segments except the West, with the majority in the Southeast, Mid-Atlantic and Northeast in the first quarter of fiscal 2016, and in all segments in the first quarter of fiscal 2015, with the majority in the Midwest and Southeast.

We decide to mothball (or stop development on) certain communities when we determine that the current performance does not justify further investment at the time. When we decide to mothball a community, the inventory is reclassified on our Condensed Consolidated Balance Sheets from “Sold and unsold homes and lots under development” to “Land and land options held for future development or sale.” During the first quarter of fiscal 2016, we did not mothball any additional communities, but re-activated one previously mothballed community and contributed one previously mothballed community to a new joint venture which is beginning construction. As of January 31, 2016 and October 31, 2015, the net book value associated with our 29 and 31 total mothballed communities was $76.3 million and $103.0 million, respectively, which was net of impairment charges recorded in prior periods of $296.2 million and $334.5 million, respectively.

From time to time we enter into option agreements that include specific performance requirements, whereby we are required to purchase a minimum number of lots. Because of our obligation to purchase these lots, for accounting purposes in accordance with Accounting Standards Codification (“ASC”) 360-20-40-38, we are required to record this inventory on our Condensed Consolidated Balance Sheets. As of January 31, 2016 and October 31, 2015, we had $0.5 million and $1.2 million, respectively, of specific performance options recorded on our Condensed Consolidated Balance Sheets to “Consolidated inventory not owned,” with a corresponding liability of $0.5 million and $1.2 million, respectively, recorded to “Liabilities from inventory not owned.”

We sell and lease back certain of our model homes with the right to participate in the potential profit when each home is sold to a third party at the end of the respective lease. As a result of our continued involvement, for accounting purposes in accordance with ASC 360-20-40-38, these sale and leaseback transactions are considered a financing rather than a sale. Therefore, for purposes of our Condensed Consolidated Balance Sheets, at January 31, 2016 and October 31, 2015, inventory of $97.9 million and $95.9 million, respectively, was recorded to “Consolidated inventory not owned,” with a corresponding amount of $90.1 million and $87.9 million, respectively, recorded to “Liabilities from inventory not owned” for the amount of net cash received from the transactions.

We have land banking arrangements, whereby we sell our land parcels to the land bankers and they provide us an option to purchase back finished lots on a predetermined schedule. Because of our options to repurchase these parcels, for accounting purposes, in accordance with ASC 360-20-40-38, these transactions are considered a financing rather than a sale. For purposes of our Condensed Consolidated Balance Sheets, at January 31, 2016 and October 31, 2015, inventory of $239.6 million and $25.1 million, respectively, was recorded to “Consolidated inventory not owned,” with a corresponding amount of $151.8 million and $16.8 million, respectively, recorded to “Liabilities from inventory not owned” for the amount of net cash received from the transactions.

Note 5 - Variable Interest Entities

3 Months Ended

Jan. 31, 2016

Variable Interest Entity Disclosure [Text Block]

5.	Variable Interest Entities

The Company enters into land and lot option purchase contracts to procure land or lots for the construction of homes. Under these contracts, the Company will fund a stated deposit in consideration for the right, but not the obligation, to purchase land or lots at a future point in time with predetermined terms. Under the terms of the option purchase contracts, many of the option deposits are not refundable at the Company's discretion. Under the requirements of ASC 810, certain option purchase contracts may result in the creation of a variable interest in the entity (“VIE”) that owns the land parcel under option.

In compliance with ASC 810, the Company analyzes its option purchase contracts to determine whether the corresponding land sellers are VIEs and, if so, whether the Company is the primary beneficiary. Although the Company does not have legal title to the underlying land, ASC 810 requires the Company to consolidate a VIE if the Company is determined to be the primary beneficiary. In determining whether it is the primary beneficiary, the Company considers, among other things, whether it has the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance. Such activities would include, among other things, determining or limiting the scope or purpose of the VIE, selling or transferring property owned or controlled by the VIE, or arranging financing for the VIE. The Company also considers whether it has the obligation to absorb losses of the VIE or the right to receive benefits from the VIE. As a result of its analyses, the Company determined that as of January 31, 2016 and October 31, 2015, it was not the primary beneficiary of any VIEs from which it is purchasing land under option purchase contracts.

We will continue to secure land and lots using options, some of which are with VIEs. Including deposits on our unconsolidated VIEs, at January 31, 2016, we had total cash deposits amounting to $85.8 million to purchase land and lots with a total purchase price of $1.5 billion. The maximum exposure to loss with respect to our land and lot options is limited to the deposits plus any pre-development costs invested in the property, although some deposits are refundable at our request or refundable if certain conditions are not met.

Note 6 - Warranty Costs

3 Months Ended

Jan. 31, 2016

Product Warranties Disclosures [Abstract]

Product Warranty Disclosure [Text Block]

6.	Warranty Costs

General liability insurance for homebuilding companies and their suppliers and subcontractors is very difficult to obtain. The availability of general liability insurance is limited due to a decreased number of insurance companies willing to underwrite for the industry. In addition, those few insurers willing to underwrite liability insurance have significantly increased the premium costs. To date, we have been able to obtain general liability insurance but at higher premium costs with higher deductibles. Our subcontractors and suppliers have advised us that they have also had difficulty obtaining insurance that also provides us coverage. As a result, we have an owner controlled insurance program for certain of our subcontractors whereby the subcontractors pay us an insurance premium (through a reduction of amounts we would otherwise owe such subcontractors for their work on our homes) based on the risk type of the trade. We absorb the liability associated with their work on our homes as part of our overall general liability insurance at no additional cost to us because our existing general liability and construction defect insurance policy and related reserves for amounts under our deductible covers construction defects regardless of whether we or our subcontractors are responsible for the defect. For the three months ended January 31, 2016 and 2015, we received $1.0 million and $0.6 million, respectively, from subcontractors related to the owner controlled insurance program, which we accounted for as a reduction to inventory.

We accrue for warranty costs that are covered under our existing general liability and construction defect policy as part of our general liability insurance deductible. This accrual is expensed as selling, general and administrative costs. For homes delivered in fiscal 2016 and 2015, our deductible under our general liability insurance is a $20 million aggregate for construction defect and warranty claims. For bodily injury claims, our deductible per occurrence in fiscal 2016 and 2015 is $0.25 million, up to a $5 million limit. Our aggregate retention in fiscal 2016 and 2015 is $21 million for construction defect, warranty and bodily injury claims. In addition, we establish a warranty accrual for lower cost related issues to cover home repairs, community amenities and land development infrastructure that are not covered under our general liability and construction defect policy. We accrue an estimate for these warranty costs as part of cost of sales at the time each home is closed and title and possession have been transferred to the homebuyer. Additions and charges in the warranty reserve and general liability reserve for the three months ended January 31, 2016 and 2015 were as follows:

	Three Months Ended January 31,
(In thousands)	2016		2015

Balance, beginning of period	$135,053		$178,008
Additions – Selling, general and administrative	4,623		5,249
Additions – Cost of sales	3,382		3,181
Charges incurred during the period	(9,669	)	(4,605	)
Changes to pre-existing reserves	-		-
Balance, end of period	$133,389		$181,833

Warranty accruals are based upon historical experience. We engage a third-party actuary that uses our historical warranty and construction defect data to assist our management in estimating our unpaid claims, claim adjustment expenses and incurred but not reported claims reserves for the risks that we are assuming under the general liability and construction defect programs. The estimates include provisions for inflation, claims handling and legal fees.

Insurance claims paid by our insurance carriers, excluding insurance deductibles paid, were $3.2 million and $0.2 million for the three months ended January 31, 2016 and 2015, respectively, for prior year deliveries. In the first quarter of 2016, we settled two construction defect claims relating to the Northeast segment which made up the majority of the payments.

Note 7 - Commitments and Contingent Liabilities

3 Months Ended

Jan. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

7.	Commitments and Contingent Liabilities

We are involved in litigation arising in the ordinary course of business, none of which is expected to have a material adverse effect on our financial position, results of operations or cash flows, and we are subject to extensive and complex laws and regulations that affect the development of land and home building, sales and customer financing processes, including zoning, density, building standards and mortgage financing. These laws and regulations often provide broad discretion to the administering governmental authorities. This can delay or increase the cost of development or homebuilding.

We also are subject to a variety of local, state, federal and foreign laws and regulations concerning protection of health and the environment, including those regulating the emission or discharge of materials into the environment, the management of stormwater runoff at construction sites, the handling, use, storage and disposal of hazardous substances, impacts to wetlands and other sensitive environments, and the remediation of contamination at properties that we have owned or developed or currently own or are developing (“environmental laws”). The particular environmental laws that apply to any given community vary greatly according to the community site, the site’s environmental conditions and the present and former uses of the site. These environmental laws may result in delays, may cause us to incur substantial compliance, remediation and/or other costs, and can prohibit or severely restrict development and homebuilding activity. In addition, noncompliance with these laws and regulations could result in fines and penalties, obligations to remediate, permit revocations or other sanctions; and contamination or other environmental conditions at or in the vicinity of our developments may result in claims against us for personal injury, property damage or other losses.

In March 2013, we received a letter from the Environmental Protection Agency (“EPA”) requesting information about our involvement in a housing redevelopment project in Newark, New Jersey that a Company entity undertook during the 1990s. We understand that the development is in the vicinity of a former lead smelter and that recent tests on soil samples from properties within the development conducted by the EPA show elevated levels of lead. We also understand that the smelter ceased operations many years before the Company entity involved acquired the properties in the area and carried out the re-development project. We responded to the EPA’s request. In August 2013, we were notified that the EPA considers us a potentially responsible party (or “PRP”) with respect to the site, that the EPA will clean up the site, and that the EPA is proposing that we fund and/or contribute towards the cleanup of the contamination at the site. We began preliminary discussions with the EPA concerning a possible resolution but do not know the scope or extent of the Company’s obligations, if any, that may arise from the site and therefore cannot provide any assurance that this matter will not have a material impact on the Company. The EPA requested additional information in April 2014 and the Company has responded to its information request.

We anticipate that increasingly stringent requirements will be imposed on developers and homebuilders in the future. Although we cannot reliably predict the extent of any effect these requirements may have on us, they could result in time-consuming and expensive compliance programs and in substantial expenditures, which could cause delays and increase our cost of operations. In addition, our ability to obtain or renew permits or approvals and the continued effectiveness of permits already granted or approvals already obtained is dependent upon many factors, some of which are beyond our control, such as changes in policies, rules and regulations and their interpretations and application.

Note 8 - Restricted Cash and Deposits

3 Months Ended

Jan. 31, 2016

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents Disclosure [Text Block]

8.	Restricted Cash and Deposits

Cash represents cash deposited in checking accounts. Cash equivalents include certificates of deposit, Treasury bills and government money market funds with maturities of 90 days or less when purchased. Our cash balances are held at a few financial institutions and may, at times, exceed insurable amounts. We believe we help to mitigate this risk by depositing our cash in major financial institutions. At January 31, 2016 and October 31, 2015, $9.0 million and $15.8 million, respectively, of the total cash and cash equivalents was in cash equivalents, the book value of which approximates fair value.

Restricted cash and cash equivalents on the Condensed Consolidated Balance Sheets totaled $26.9 million and $26.5 million as of January 31, 2016 and October 31, 2015, respectively, which includes cash collateralizing our letter of credit agreements and facilities and is discussed in Note 10. Also included in this balance were homebuilding and financial services customers’ deposits of $4.3 million and $18.1 million at January 31, 2016, respectively, and $4.7 million and $17.2 million as of October 31, 2015, respectively, which are restricted from use by us, and $2.0 million of restricted cash at both January 31, 2016 and October 31, 2015 under the terms of our mortgage warehouse lines of credit.

Total Homebuilding Customers’ deposits are shown as a liability on the Condensed Consolidated Balance Sheets. These liabilities are significantly more than the applicable periods’ restricted cash balances because in some states, the deposits are not restricted from use and, in other states, we are able to release the majority of these customer deposits to cash by pledging letters of credit and surety bonds.

The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify.

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

Note 9 - Mortgage Loans Held for Sale

3 Months Ended

Jan. 31, 2016

Receivables [Abstract]

9.	Mortgage Loans Held for Sale

Our mortgage banking subsidiary originates mortgage loans, primarily from the sale of our homes. Such mortgage loans are sold in the secondary mortgage market within a short period of time of origination. Mortgage loans held for sale consist primarily of single-family residential loans collateralized by the underlying property. We have elected the fair value option to record loans held for sale and therefore these loans are recorded at fair value with the changes in the value recognized in the Condensed Consolidated Statements of Operations in “Revenues: Financial services.” We currently use forward sales of mortgage-backed securities (“MBS”), interest rate commitments from borrowers and mandatory and/or best efforts forward commitments to sell loans to third-party purchasers to protect us from interest rate fluctuations. These short-term instruments, which do not require any payments to be made to the counterparty or purchaser in connection with the execution of the commitments, are recorded at fair value. Gains and losses on changes in the fair value are recognized in the Condensed Consolidated Statements of Operations in “Revenues: Financial services.”

At January 31, 2016 and October 31, 2015, $147.7 million and $114.0 million, respectively, of mortgages held for sale were pledged against our mortgage warehouse lines of credit (see Note 10). We may incur losses with respect to mortgages that were previously sold that are delinquent and which had underwriting defects, but only to the extent the losses are not covered by mortgage insurance or resale value of the home. The reserves for these estimated losses are included in the “Financial services – Accounts payable and other liabilities” balances on the Condensed Consolidated Balance Sheets. As of both January 31, 2016 and 2015, we had reserves specifically for 131 identified mortgage loans, as well as reserves for an estimate for future losses on mortgages sold but not yet identified to us.

The activity in our loan origination reserves during the three months ended January 31, 2016 and 2015 was as follows:

	Three Months Ended January 31,
(In thousands)	2016		2015

Loan origination reserves, beginning of period	$8,025		$7,352
Provisions for losses during the period	41		61
Adjustments to pre-existing provisions for losses from changes in estimates	(38	)	568
Loan origination reserves, end of period	$8,028		$7,981

Note 10 - Mortgages and Notes Payable

3 Months Ended

Jan. 31, 2016

Line Of Credit [Abstract]

Line Of Credit [Text Block]

10.

Mortgages and Notes Payable

We had nonrecourse mortgage loans for certain communities totaling $128.7 million and $143.9 million at January 31, 2016 and October 31, 2015, respectively, which are secured by the related real property, including any improvements, with an aggregate book value of $328.2 million and $388.1 million, respectively. The weighted-average interest rate on these obligations was 4.9% and 5.1% at January 31, 2016 and October 31, 2015, respectively, and the mortgage loan payments on each community primarily correspond to home deliveries. We also had nonrecourse mortgage loans on our corporate headquarters totaling $15.2 million and $15.5 million at January 31, 2016 and October 31, 2015, respectively. These loans had a weighted-average interest rate of 8.8% at both January 31, 2016 and October 31, 2015. As of January 31, 2016, these loans had installment obligations with annual principal maturities in the years ending October 31 of: $0.9 million in 2016, $1.3 million in 2017, $1.4 million in 2018, $1.5 million in 2019, $1.7 million in 2020 and $8.4 million after 2020.

In June 2013, K. Hovnanian Enterprises, Inc. (“K. Hovnanian”), as borrower, and we and certain of our subsidiaries, as guarantors, entered into a five-year, $75.0 million unsecured revolving credit facility (the “Credit Facility”) with Citicorp USA, Inc., as administrative agent and issuing bank, and Citibank, N.A., as a lender. The Credit Facility is available for both letters of credit and general corporate purposes. The Credit Facility does not contain any financial maintenance covenants, but does contain certain restrictive covenants that track those contained in our indenture governing the 8.0% Senior Notes due 2019, which are described in Note 11. The Credit Facility also contains certain customary events of default which would permit the administrative agent at the request of the required lenders to, among other things, declare all loans then outstanding to be immediately due and payable if such default is not cured within applicable grace periods, including the failure to make timely payments of amounts payable under the Credit Facility or other material indebtedness or the acceleration of other material indebtedness, the failure to comply with agreements and covenants or for representations or warranties to be correct in all material respects when made, specified events of bankruptcy and insolvency, and the entry of a material judgment against a loan party. Outstanding borrowings under the Credit Facility accrue interest at an annual rate equal to either, as selected by K. Hovnanian, (i) the alternate base rate plus the applicable spread determined on the date of such borrowing or (ii) an adjusted London Interbank Offered Rate (“LIBOR”) rate plus the applicable spread determined as of the date two business days prior to the first day of the interest period for such borrowing. As of January 31, 2016 and October 31, 2015 there were $47.0 million of borrowings, respectively, and $25.5 million and $25.9 million of letters of credit outstanding, respectively, under the Credit Facility. As of January 31, 2016, we believe we were in compliance with the covenants under the Credit Facility.

In addition to the Credit Facility, we have certain stand–alone cash collateralized letter of credit agreements and facilities under which there were a total of $2.5 million and $2.6 million letters of credit outstanding at January 31, 2016 and October 31, 2015, respectively. These agreements and facilities require us to maintain specified amounts of cash as collateral in segregated accounts to support the letters of credit issued thereunder, which will affect the amount of cash we have available for other uses. As of January 31, 2016 and October 31, 2015, the amount of cash collateral in these segregated accounts was $2.5 million and $2.6 million, respectively, which is reflected in “Restricted cash and cash equivalents” on the Condensed Consolidated Balance Sheets.

Our wholly owned mortgage banking subsidiary, K. Hovnanian American Mortgage, LLC (“K. Hovnanian Mortgage”), originates mortgage loans primarily from the sale of our homes. Such mortgage loans and related servicing rights are sold in the secondary mortgage market within a short period of time. In certain instances, we retain the servicing rights for a small amount of loans. Our secured Master Repurchase Agreement with JPMorgan Chase Bank, N.A. (“Chase Master Repurchase Agreement”), which was amended on January 29, 2016, is a short-term borrowing facility that provides up to $50.0 million through January 31, 2017. The loan is secured by the mortgages held for sale and is repaid when we sell the underlying mortgage loans to permanent investors. Interest is payable monthly on outstanding advances at an adjusted LIBOR rate, which was 0.425% at January 31, 2016, plus the applicable margin of 2.5% or 2.63% based upon type of loan. As of January 31, 2016 and October 31, 2015, the aggregate principal amount of all borrowings outstanding under the Chase Master Repurchase Agreement was $42.2 million and $30.5 million, respectively.

K. Hovnanian Mortgage has another secured Master Repurchase Agreement with Customers Bank (“Customers Master Repurchase Agreement”), which was amended on February 18, 2016 to extend the maturity date to February 17, 2017, that is a short-term borrowing facility that provides up to $25.0 million through maturity. The loan is secured by the mortgages held for sale and is repaid when we sell the underlying mortgage loans to permanent investors. Interest is payable daily or as loans are sold to permanent investors on outstanding advances at the current LIBOR, plus the applicable margin ranging from 2.5% to 5.25% based on the type of loan and the number of days outstanding on the warehouse line. As of January 31, 2016 and October 31, 2015, the aggregate principal amount of all borrowings outstanding under the Customers Master Repurchase Agreement was $33.1 million and $29.7 million, respectively.

K. Hovnanian Mortgage has a third secured Master Repurchase Agreement with Credit Suisse First Boston Mortgage Capital LLC (“Credit Suisse Master Repurchase Agreement”), which was amended on February 23, 2016, that is a short-term borrowing facility that provides up to $50.0 million through February 21, 2017. The loan is secured by the mortgages held for sale and is repaid when we sell the underlying mortgage loans to permanent investors. Interest is payable monthly on outstanding advances at the Credit Suisse Base Rate, which was 0.76% at January 31, 2016, plus the applicable margin of 2.5% until the loan documents have been provided to the lender, at which point the margin is lowered to 2.25%. As of January 31, 2016 and October 31, 2015, the aggregate principal amount of all borrowings outstanding under the Credit Suisse Master Repurchase Agreement was $36.7 million and $30.1 million, respectively.

In February 2014, K. Hovnanian Mortgage executed a secured Master Repurchase Agreement with Comerica Bank (“Comerica Master Repurchase Agreement”), which was amended on December 28, 2015 to extend the maturity date to December 27, 2016. The Comerica Master Repurchase Agreement is a short-term borrowing facility that provides up to $35.0 million through maturity. The loan is secured by the mortgages held for sale and is repaid when we sell the underlying mortgage loans to permanent investors. Interest is payable monthly at LIBOR, subject to a floor of 0.25%, plus the applicable margin of 2.5%. As of January 31, 2016 and October 31, 2015, the aggregate principal amount of all borrowings outstanding under the Comerica Master Repurchase Agreement was $28.4 million and $18.6 million, respectively.

The Chase Master Repurchase Agreement, Customers Master Repurchase Agreement, Credit Suisse Master Repurchase Agreement and Comerica Master Repurchase Agreement (together, the “Master Repurchase Agreements”) require K. Hovnanian Mortgage to satisfy and maintain specified financial ratios and other financial condition tests. Because of the extremely short period of time mortgages are held by K. Hovnanian Mortgage before the mortgages are sold to investors (generally a period of a few weeks), the immateriality to us on a consolidated basis of the size of the Master Repurchase Agreements, the levels required by these financial covenants, our ability based on our immediately available resources to contribute sufficient capital to cure any default, were such conditions to occur, and our right to cure any conditions of default based on the terms of the applicable agreement, we do not consider any of these covenants to be substantive or material. As of January 31, 2016, we believe we were in compliance with the covenants under the Master Repurchase Agreements.

Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes

3 Months Ended

Jan. 31, 2016

Long-term Debt [Text Block]

11.

Senior Secured, Senior, Senior Amortizing and Senior Exchangeable Notes

Senior Secured, Senior, Senior Amortizing and Senior Exchangeable Notes balances as of January 31, 2016 and October 31, 2015, were as follows:

(In thousands)	January 31, 2016	October 31, 2015
Senior Secured Notes:
7.25% Senior Secured First Lien Notes due October 15, 2020	$577,000	$577,000
9.125% Senior Secured Second Lien Notes due November 15, 2020	220,000	220,000
2.0% Senior Secured Notes due November 1, 2021 (net of discount)	53,141	53,139
5.0% Senior Secured Notes due November 1, 2021 (net of discount)	131,575	131,207
Total Senior Secured Notes	$981,716	$981,346
Senior Notes:
6.25% Senior Notes due January 15, 2016 (net of discount)	$-	$172,744
7.5% Senior Notes due May 15, 2016	86,532	86,532
8.625% Senior Notes due January 15, 2017	121,043	121,043
7.0% Senior Notes due January 15, 2019	150,000	150,000
8.0% Senior Notes due November 1, 2019	250,000	250,000
Total Senior Notes	$607,575	$780,319
11.0% Senior Amortizing Notes due December 1, 2017	$10,516	$12,811
Senior Exchangeable Notes due December 1, 2017	$74,720	$73,771

Except for K. Hovnanian, the issuer of the notes, our home mortgage subsidiaries, joint ventures and subsidiaries holding interests in our joint ventures, certain of our title insurance subsidiaries and our foreign subsidiary, we and each of our subsidiaries are guarantors of the senior secured, senior, senior amortizing and senior exchangeable notes outstanding at January 31, 2016 (see Note 21). In addition, the 5.0% Senior Secured Notes due 2021 (the “5.0% 2021 Notes”) and the 2.0% Senior Secured Notes due 2021 (the “2.0% 2021 Notes” and together with the 5.0% 2021 Notes, the “2021 Notes”) are guaranteed by K. Hovnanian JV Holdings, L.L.C. and its subsidiaries except for certain joint ventures and joint venture holding companies (collectively, the “Secured Group”). Members of the Secured Group do not guarantee K. Hovnanian's other indebtedness.

The indentures governing the notes do not contain any financial maintenance covenants, but do contain restrictive covenants that limit, among other things, the Company’s ability and that of certain of its subsidiaries, including K. Hovnanian, to incur additional indebtedness (other than certain permitted indebtedness, refinancing indebtedness and nonrecourse indebtedness), pay dividends and make distributions on common and preferred stock, repurchase subordinated indebtedness (with respect to certain of the senior secured and senior notes), make other restricted payments, make investments, sell certain assets, incur liens, consolidate, merge, sell or otherwise dispose of all or substantially all assets, and enter into certain transactions with affiliates. The indentures also contain events of default which would permit the holders of the notes to declare the notes to be immediately due and payable if not cured within applicable grace periods, including the failure to make timely payments on the notes or other material indebtedness, the failure to comply with agreements and covenants and specified events of bankruptcy and insolvency and, with respect to the indentures governing the senior secured notes, the failure of the documents granting security for the senior secured notes to be in full force and effect, and the failure of the liens on any material portion of the collateral securing the senior secured notes to be valid and perfected. As of January 31, 2016, we believe we were in compliance with the covenants of the indentures governing our outstanding notes.

Under the terms of the indentures, we have the right to make certain redemptions and, depending on market conditions and covenant restrictions, may do so from time to time. We also continue to evaluate our capital structure and may also continue to make debt purchases and/or exchanges for debt or equity from time to time through tender offers, open market purchases, private transactions, or otherwise, or seek to raise additional debt or equity capital, depending on market conditions and covenant restrictions.

If our consolidated fixed charge coverage ratio, as defined in the indentures governing our senior secured and senior notes (other than the senior exchangeable notes discussed in Note 12 below), is less than 2.0 to 1.0, we are restricted from making certain payments, including dividends, and from incurring indebtedness other than certain permitted indebtedness, (currently, however, our ability to incur additional permitted indebtedness is limited and we expect it to be limited for the foreseeable future) refinancing indebtedness, and nonrecourse indebtedness. As a result of this ratio restriction, we are currently restricted from paying dividends, which are not cumulative, on our 7.625% Series A Preferred Stock. We anticipate that we will continue to be restricted from paying dividends for the foreseeable future. Our inability to pay dividends is in accordance with covenant restrictions and will not result in a default under our debt instruments or otherwise affect compliance with any of the covenants contained in our debt instruments.

The 7.25% Senior Secured First Lien Notes due 2020 (the “First Lien Notes”) are secured by a first-priority lien and the 9.125% Senior Secured Second Lien Notes due 2020 (the “Second Lien Notes” and, together with the First Lien Notes, the “2020 Secured Notes”) are secured by a second-priority lien, in each case, subject to permitted liens and other exceptions, on substantially all the assets owned by us, K. Hovnanian and the guarantors of such notes. At January 31, 2016, the aggregate book value of the real property that constituted collateral securing the 2020 Secured Notes was approximately $628.4 million, which does not include the impact of inventory investments, home deliveries or impairments thereafter and which may differ from the value if it were appraised. In addition, cash and cash equivalents collateral that secured the 2020 Secured Notes was $112.6 million as of January 31, 2016, which included $2.5 million of restricted cash collateralizing certain letters of credit. Subsequent to such date, fluctuations as a result of cash uses include general business operations and real estate and other investments along with cash inflow primarily from deliveries.

The guarantees with respect to the 2021 Notes of the Secured Group are secured, subject to permitted liens and other exceptions, by a first-priority lien on substantially all of the assets of the members of the Secured Group. As of January 31, 2016, the collateral securing the guarantees included (1) $37.0 million of cash and cash equivalents (subsequent to such date, fluctuations as a result of cash uses include general business operations and real estate and other investments along with cash inflow primarily from deliveries); (2) $167.3 million aggregate book value of real property of the Secured Group, which does not include the impact of inventory investments, home deliveries or impairments thereafter and which may differ from the value if it were appraised, and (3) equity interests in guarantors that are members of the Secured Group. Members of the Secured Group also own equity in joint ventures, either directly or indirectly through ownership of joint venture holding companies, with a book value of $64.7 million as of January 31, 2016; this equity is not pledged to secure, and is not collateral for, the 2021 Notes. Members of the Secured Group are “unrestricted subsidiaries” under K. Hovnanian's other senior notes and senior secured notes, and thus have not guaranteed such indebtedness.

On November 5, 2014, K. Hovnanian issued $250.0 million aggregate principal amount of 8.0% Senior Notes due 2019, resulting in net proceeds of $245.7 million. These proceeds were used for general corporate purposes. The notes will mature on November 1, 2019. The notes are redeemable in whole or in part at K. Hovnanian’s option at any time prior to August 1, 2019 at a redemption price equal to 100% of their principal amount plus an applicable “Make-Whole Amount.” At any time and from time to time on or after August 1, 2019, K. Hovnanian may also redeem some or all of the notes to a redemption price equal to 100% of their principal amount.

On January 15, 2016, $172.7 million principal amount of our 6.25% Senior Notes due 2016 matured and were paid. We have $86.5 million principal amount of 7.5% Senior Notes due on May 15, 2016 and $121.0 million principal amount of 8.625% Senior Notes due on January 15, 2017. While our preference is to refinance these notes, in light of current availability of debt financing in the capital and loan markets to companies with comparable credit ratings, we may not be able to refinance these obligations or do so at an attractive rate. In this situation, we currently believe we will have sufficient liquidity from our operations and our planned reduction of our geographic operating footprint (as described below) to enable us to pay these notes at maturity. However, depending on market conditions, we may also need to reduce or delay investments or consider other liquidity-enhancing measures such as new land banking arrangements, an increase in joint venture activity and/or project specific financings and model sale leasebacks.

We have been evaluating our geographic operating footprint as it relates to our strategic objectives. As a result, we have decided to exit the Minneapolis, MN and Raleigh, NC markets by selling our land portfolios in those markets and to wind down our operations in the San Francisco Bay area in Northern California and in Tampa, FL by building and delivering homes to sell through our existing land position.

The timing of our land sales of our Minneapolis, MN and Raleigh, NC operations and any such other liquidity-enhancing transaction will depend on identifying counterparties, negotiation of documentation and applicable closing conditions and any required approvals. Due to covenant restrictions in our debt instruments, we are currently limited in the amount of debt we can incur that does not qualify as refinancing indebtedness (a limitation that we expect to continue for the foreseeable future), even if market conditions would otherwise be favorable, which could also impact our ability to grow our business.

Note 12 - Senior Exchangeable Notes

3 Months Ended

Jan. 31, 2016

Exchangeable Note Units And Senior Amortizing Notes [Abstract]

Exchangeable Note Units And Senior Amortizing Notes [Text Block]

12.

Senior Exchangeable Notes

On October 2, 2012, the Company and K. Hovnanian issued $100,000,000 aggregate stated amount of 6.0% Exchangeable Note Units (the “Units”) (equivalent to 100,000 Units). Each $1,000 stated amount of Units initially consists of (1) a zero coupon senior exchangeable note due December 1, 2017 (a “Senior Exchangeable Note”) issued by K. Hovnanian, which bears no cash interest and has an initial principal amount of $768.51 per Senior Exchangeable Note, and that will accrete to $1,000 at maturity and (2) a senior amortizing note due December 1, 2017 (a “Senior Amortizing Note”) issued by K. Hovnanian, which has an initial principal amount of $231.49 per Senior Amortizing Note, bears interest at a rate of 11.0% per annum, and has a final installment payment date of December 1, 2017. Each Unit may be separated into its constituent Senior Exchangeable Note and Senior Amortizing Note after the initial issuance date of the Units, and the separate components may be combined to create a Unit.

Each Senior Exchangeable Note had an initial principal amount of $768.51 (which will accrete to $1,000 over the term of the Senior Exchangeable Note at an annual rate of 5.17% from the date of issuance, calculated on a semi-annual bond equivalent yield basis). Holders may exchange their Senior Exchangeable Notes at their option at any time prior to 5:00 p.m., New York City time, on the business day immediately preceding December 1, 2017. Each Senior Exchangeable Note will be exchangeable for shares of Class A Common Stock at an initial exchange rate of 185.5288 shares of Class A Common Stock per Senior Exchangeable Note (equivalent to an initial exchange price, based on $1,000 principal amount at maturity, of approximately $5.39 per share of Class A Common Stock). The exchange rate will be subject to adjustment in certain events. If certain corporate events occur prior to the maturity date, the Company will increase the applicable exchange rate for any holder who elects to exchange its Senior Exchangeable Notes in connection with such corporate event. In addition, holders of Senior Exchangeable Notes will also have the right to require K. Hovnanian to repurchase such holders’ Senior Exchangeable Notes upon the occurrence of certain of these corporate events. As of January 31, 2016, 18,305 Senior Exchangeable Notes have been converted into 3.4 million shares of our Class A Common Stock, all of which were converted during the first quarter of fiscal 2013.

On each June 1 and December 1 (each, an “installment payment date”), K. Hovnanian will pay holders of Senior Amortizing Notes equal semi-annual cash installments of $30.00 per Senior Amortizing Note (except for the June 1, 2013 installment payment, which was $39.83 per Senior Amortizing Note), which cash payment in the aggregate will be equivalent to 6.0% per year with respect to each $1,000 stated amount of Units. Each installment will constitute a payment of interest (at a rate of 11.0% per annum) and a partial repayment of principal on the Senior Amortizing Note. Following certain corporate events that occur prior to the maturity date, holders of the Senior Amortizing Notes will have the right to require K. Hovnanian to repurchase such holders’ Senior Amortizing Notes.

Note 13 - Per Share Calculations

3 Months Ended

Jan. 31, 2016

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

13.

Per Share Calculation

Basic earnings per share is computed by dividing net income (loss) (the “numerator”) by the weighted-average number of common shares outstanding, adjusted for nonvested shares of restricted stock (the “denominator”) for the period. Computing diluted earnings per share is similar to computing basic earnings per share, except that the denominator is increased to include the dilutive effects of options and nonvested shares of restricted stock, as well as common shares issuable upon exchange of our Senior Exchangeable Notes issued as part of our 6.0% Exchangeable Note Units. Any options that have an exercise price greater than the average market price are considered to be anti-dilutive and are excluded from the diluted earnings per share calculation.

All outstanding nonvested shares that contain nonforfeitable rights to dividends or dividend equivalents that participate in undistributed earnings with common stock are considered participating securities and are included in computing earnings per share pursuant to the two-class method. The two-class method is an earnings allocation formula that determines earnings per share for each class of common stock and participating securities according to dividends or dividend equivalents and participation rights in undistributed earnings in periods when we have net income. The Company’s restricted common stock (“nonvested shares”) are considered participating securities.

Incremental shares attributed to nonvested stock and outstanding options to purchase common stock of 0.3 million for the three months ended January 31, 2015 were excluded from the computation of diluted earnings per share because we had a net loss for the period, and any incremental shares would not be dilutive. There were no incremental shares attributed to nonvested stock and outstanding options to purchase common stock for the three months ended January 31, 2016. Also, for both the three months ended January 31, 2016 and 2015, 15.2 million shares of common stock issuable upon the exchange of our Senior Exchangeable Notes (which were issued in fiscal 2012) were excluded from the computation of diluted earnings per share because we had net losses for the periods.

In addition, shares related to out-of-the money stock options that could potentially dilute basic earnings per share in the future that were not included in the computation of diluted earnings per share were 6.4 million and 3.3 million for the three months ended January 31, 2016 and 2015, respectively, because to do so would have been anti-dilutive for the periods presented.

Note 14 - Preferred Stock

3 Months Ended

Jan. 31, 2016

Disclosure Text Block Supplement [Abstract]

Preferred Stock [Text Block]

14.

Preferred Stock

On July 12, 2005, we issued 5,600 shares of 7.625% Series A Preferred Stock, with a liquidation preference of $25,000 per share. Dividends on the Series A Preferred Stock are not cumulative and are paid at an annual rate of 7.625%. The Series A Preferred Stock is not convertible into the Company’s common stock and is redeemable in whole or in part at our option at the liquidation preference of the shares. The Series A Preferred Stock is traded as depositary shares, with each depositary share representing 1/1000th of a share of Series A Preferred Stock. The depositary shares are listed on the NASDAQ Global Market under the symbol “HOVNP.” During the three months ended January 31, 2016 and 2015, we did not pay any dividends on the Series A Preferred Stock due to covenant restrictions in our debt instruments.

Note 15 - Common Stock

3 Months Ended

Jan. 31, 2016

Common Stock [Abstract]

Common Stock [Text Block]

15.

Common Stock

Each share of Class A Common Stock entitles its holder to one vote per share, and each share of Class B Common Stock generally entitles its holder to ten votes per share. The amount of any regular cash dividend payable on a share of Class A Common Stock will be an amount equal to 110% of the corresponding regular cash dividend payable on a share of Class B Common Stock. If a shareholder desires to sell shares of Class B Common Stock, such stock must be converted into shares of Class A Common Stock.

On August 4, 2008, our Board of Directors adopted a shareholder rights plan (the “Rights Plan”) designed to preserve shareholder value and the value of certain tax assets primarily associated with net operating loss (NOL) carryforwards and built-in losses under Section 382 of the Internal Revenue Code. Our ability to use NOLs and built-in losses would be limited if there was an “ownership change” under Section 382. This would occur if shareholders owning (or deemed under Section 382 to own) 5% or more of our stock increase their collective ownership of the aggregate amount of our outstanding shares by more than 50 percentage points over a defined period of time. The Rights Plan was adopted to reduce the likelihood of an “ownership change” occurring as defined by Section 382. Under the Rights Plan, one right was distributed for each share of Class A Common Stock and Class B Common Stock outstanding as of the close of business on August 15, 2008. Effective August 15, 2008, if any person or group acquires 4.9% or more of the outstanding shares of Class A Common Stock without the approval of the Board of Directors, there would be a triggering event causing significant dilution in the voting power of such person or group. However, existing stockholders who owned, at the time of the Rights Plan’s adoption, 4.9% or more of the outstanding shares of Class A Common Stock will trigger a dilutive event only if they acquire additional shares. The approval of the Board of Directors’ decision to adopt the Rights Plan may be terminated by the Board of Directors at any time, prior to the Rights being triggered. The Rights Plan will continue in effect until August 15, 2018, unless it expires earlier in accordance with its terms. The approval of the Board of Directors’ decision to adopt the Rights Plan was submitted to a stockholder vote and approved at a special meeting of stockholders held on December 5, 2008. Also at the Special Meeting on December 5, 2008, our stockholders approved an amendment to our Certificate of Incorporation to restrict certain transfers of Class A Common Stock in order to preserve the tax treatment of our NOLs and built-in losses under Section 382 of the Internal Revenue Code. Subject to certain exceptions pertaining to pre-existing 5% stockholders and Class B stockholders, the transfer restrictions in the amended Certificate of Incorporation generally restrict any direct or indirect transfer (such as transfers of our stock that result from the transfer of interests in other entities that own our stock) if the effect would be to (i) increase the direct or indirect ownership of our stock by any person (or public group) from less than 5% to 5% or more of our common stock; (ii) increase the percentage of our common stock owned directly or indirectly by a person (or public group) owning or deemed to own 5% or more of our common stock; or (iii) create a new public group. Transfers included under the transfer restrictions include sales to persons (or public groups) whose resulting percentage ownership (direct or indirect) of common stock would exceed the 5% thresholds discussed above, or to persons whose direct or indirect ownership of common stock would by attribution cause another person (or public group) to exceed such threshold.

On July 3, 2001, our Board of Directors authorized a stock repurchase program to purchase up to 4 million shares of Class A Common Stock. There were no shares purchased during the three months ended January 31, 2016. As of January 31, 2016, the maximum number of shares of Class A Common Stock that may yet be purchased under this program is 0.5 million.

Note 16 - Income Taxes

3 Months Ended

Jan. 31, 2016

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

16.

Income Taxes

The total income tax expense of $3.0 million recognized for the three months ended January 31, 2016 was primarily due to the impact of permanent differences between book income and taxable income as a result of the issuance of shares under a deferred compensation plan that were expensed during vesting at significantly higher value than the value at the time of issuance as well as state tax expenses and state tax reserves for uncertain tax positions. The total income tax benefit of $5.3 million recognized for the three months ended January 31, 2015 was primarily due to deferred taxes partially offset by state tax expenses and state tax reserves for uncertain state tax positions.

Deferred federal and state income tax assets primarily represent the deferred tax benefits arising from temporary differences between book and tax income which will be recognized in future years as an offset against future taxable income. If the combination of future years’ income (or loss) and the reversal of the timing differences results in a loss, such losses can be carried forward to future years. In accordance with ASC 740, we evaluate our deferred tax assets quarterly to determine if valuation allowances are required. ASC 740 requires that companies assess whether valuation allowances should be established based on the consideration of all available evidence using a “more likely than not” standard.

As of October 31, 2015, and again at January 31, 2016, we concluded that it was more likely than not that a substantial amount of our deferred tax assets (“DTA”) would be utilized. This conclusion was based on a detailed evaluation of all relevant evidence, both positive and negative. The positive evidence included factors such as positive earnings for two of the last three fiscal years and the expectation of earnings going forward over the long term and evidence of a sustained recovery in the housing markets in which we operate. Such evidence is supported by significant increases in key financial indicators over the last few years, including new orders, backlog, and community count compared with the prior years. Economic data has also been affirming the housing market recovery. Housing starts, homebuilding volume and prices are increasing and forecasted to continue to increase. Historically low mortgage rates, affordable home prices, reduced foreclosures and a favorable home ownership to rental comparison are key factors in the recovery.

Potentially offsetting this positive evidence is the fact that we had a loss before income taxes for the fiscal year ended October 31, 2015 as well as for the first quarter ended January 31, 2016. However, we are no longer in a three year cumulative loss position as of January 31, 2016. As per ASC 740, cumulative losses are one of the most objectively verifiable forms of negative evidence; we no longer have this negative evidence and we expect to be profitable going forward over the long term. Our recent three years cumulative performance and our expectations for the coming years based on our current backlog, community count and recent sales contracts provide evidence that reaffirms our conclusion that a full valuation allowance was not necessary and that the current valuation allowance for deferred taxes of $635.3 million as of January 31, 2016 is appropriate.

Note 17 - Operating and Reporting Segments

3 Months Ended

Jan. 31, 2016

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

17.

Operating and Reporting Segments

Our operating segments are components of our business for which discrete financial information is available and reviewed regularly by the chief operating decision maker, our Chief Executive Officer, to evaluate performance and make operating decisions. Based on this criteria, each of our communities qualifies as an operating segment, and therefore, it is impractical to provide segment disclosures for this many segments. As such, we have aggregated the homebuilding operating segments into six reportable segments.

Our homebuilding operating segments are aggregated into reportable segments based primarily upon geographic proximity, similar regulatory environments, land acquisition characteristics and similar methods used to construct and sell homes. Our reportable segments consist of the following six homebuilding segments and a financial services segment:

Homebuilding:

(1)

Northeast (New Jersey and Pennsylvania)

(2)

Mid-Atlantic (Delaware, Maryland, Virginia, Washington D.C. and West Virginia)

(3)

Midwest (Illinois, Minnesota and Ohio)

(4)

Southeast (Florida, Georgia, North Carolina and South Carolina)

(5)

Southwest (Arizona and Texas)

(6)

West (California)

Financial Services

Operations of the Company’s Homebuilding segments primarily include the sale and construction of single-family attached and detached homes, attached townhomes and condominiums, urban infill and active adult homes in planned residential developments. In addition, from time to time, operations of the homebuilding segments include sales of land. Operations of the Company’s Financial Services segment include mortgage banking and title services provided to the homebuilding operations’ customers. We do not typically retain or service mortgages that we originate but rather sell the mortgages and related servicing rights to investors.

Corporate and unallocated primarily represents operations at our headquarters in Red Bank, New Jersey. This includes our executive offices, information services, human resources, corporate accounting, training, treasury, process redesign, internal audit, construction services, and administration of insurance, quality and safety. It also includes interest income and interest expense resulting from interest incurred that cannot be capitalized in inventory in the Homebuilding segments, as well as the gains or losses on extinguishment of debt from any debt repurchases or exchanges.

Evaluation of segment performance is based primarily on operating earnings from continuing operations before provision for income taxes (“Income (loss) before income taxes”). Income (loss) before income taxes for the Homebuilding segments consist of revenues generated from the sales of homes and land, income (loss) from unconsolidated entities, management fees and other income, less the cost of homes and land sold, selling, general and administrative expenses and interest expense. Income before income taxes for the Financial Services segment consist of revenues generated from mortgage financing, title insurance and closing services, less the cost of such services and selling, general and administrative expenses incurred by the Financial Services segment.

Operational results of each segment are not necessarily indicative of the results that would have occurred had the segment been an independent stand-alone entity during the periods presented.

Financial information relating to the Company’s segment operations was as follows:

	Three Months Ended January 31,
(In thousands)	2016		2015

Revenues:
Northeast	$72,504		$50,730
Mid-Atlantic	93,820		81,185
Midwest	91,920		64,439
Southeast	39,252		37,894
Southwest	204,325		167,187
West	55,578		33,193
Total homebuilding	557,399		434,628
Financial services	18,226		11,122
Corporate and unallocated	(20	)	(36	)
Total revenues	$575,605		$445,714

(Loss) income before income taxes:
Northeast	$2,734		$(3,153	)
Mid-Atlantic	2,622		5,177
Midwest	(5,559	)	3,711
Southeast	(1,834	)	(1,156	)
Southwest	16,369		11,325
West	(5,968	)	(2,373	)
Homebuilding income before income taxes	8,364		13,531
Financial services	10,011		3,805
Corporate and unallocated	(31,569	)	(37,016	)
Loss before income taxes	$(13,194	)	$(19,680	)

(In thousands)	January 31, 2016	October 31, 2015

Assets:
Northeast	$288,384	$321,983
Mid-Atlantic	345,217	342,159
Midwest	176,399	197,899
Southeast	255,971	223,206
Southwest	469,940	465,740
West	286,351	259,943
Total homebuilding	1,822,262	1,810,930
Financial services	193,458	159,981
Corporate and unallocated (1)	537,020	631,387
Total assets	$2,552,740	$2,602,298

(1) Includes $287.4 million and $290.3 million of income taxes receivable – including deferred tax assets as of January 31, 2016 and October 31, 2015, respectively.

Equity Method Investments and Joint Ventures [Abstract]

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Note 18 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures

3 Months Ended

Jan. 31, 2016

Equity Method Investments and Joint Ventures Disclosure [Text Block]

18.

Investments in Unconsolidated Homebuilding and Land Development Joint Ventures

We enter into homebuilding and land development joint ventures from time to time as a means of accessing lot positions, expanding our market opportunities, establishing strategic alliances, managing our risk profile, leveraging our capital base and enhancing returns on capital. Our homebuilding joint ventures are generally entered into with third-party investors to develop land and construct homes that are sold directly to third-party home buyers. Our land development joint ventures include those entered into with developers and other homebuilders as well as financial investors to develop finished lots for sale to the joint venture’s members or other third parties.

In November 2015, the Company entered into a new joint venture to which the company contributed a land parcel that had been mothballed by the company, but on which construction by the joint venture has now begun. Upon formation of the joint venture, the Company received $25.7 million of cash proceeds for the contributed land.

The tables set forth below summarize the combined financial information related to our unconsolidated homebuilding and land development joint ventures that are accounted for under the equity method.

(Dollars in thousands)	January 31, 2016
	Homebuilding		Land Development		Total
Assets:
Cash and cash equivalents	$33,037		$1,500		$34,537
Inventories	371,231		11,154		382,385
Other assets	16,919		-		16,919
Total assets	$421,187		$12,654		$433,841

Liabilities and equity:
Accounts payable and accrued liabilities	$34,075		$560		$34,635
Notes payable	115,345		3,319		118,664
Total liabilities	149,420		3,879		153,299
Equity of:
Hovnanian Enterprises, Inc.	64,731		3,058		67,789
Others	207,036		5,717		212,753
Total equity	271,767		8,775		280,542
Total liabilities and equity	$421,187		$12,654		$433,841
Debt to capitalization ratio	30	%	27	%	30	%

(Dollars in thousands)	October 31, 2015
	Homebuilding		Land Development		Total
Assets:
Cash and cash equivalents	$27,856		$1,755		$29,611
Inventories	314,814		11,767		326,581
Other assets	11,225		-		11,225
Total assets	$353,895		$13,522		$367,417

Liabilities and equity:
Accounts payable and accrued liabilities	$29,994		$669		$30,663
Notes payable	112,554		3,774		116,328
Total liabilities	142,548		4,443		146,991
Equity of:
Hovnanian Enterprises, Inc.	57,336		3,122		60,458
Others	154,011		5,957		159,968
Total equity	211,347		9,079		220,426
Total liabilities and equity	$353,895		$13,522		$367,417
Debt to capitalization ratio	35	%	29	%	35	%

As of January 31, 2016 and October 31, 2015, we had advances outstanding of $1.3 million and $0.8 million, respectively, to these unconsolidated joint ventures, which were included in the “Accounts payable and accrued liabilities” balances in the tables above. On our Condensed Consolidated Balance Sheets, our “Investments in and advances to unconsolidated joint ventures” amounted to $69.1 million and $61.2 million at January 31, 2016 and October 31, 2015, respectively.

	For the Three Months Ended January 31, 2016
(In thousands)	Homebuilding		Land Development		Total

Revenues	$20,266		$1,096		$21,362
Cost of sales and expenses	(24,179	)	(1,223	)	(25,402	)
Joint venture net loss	$(3,913	)	$(127	)	$(4,040	)
Our share of net loss	$(1,496	)	$(64	)	$(1,560	)

	For the Three Months Ended January 31, 2015
(In thousands)	Homebuilding		Land Development		Total

Revenues	$28,045		$1,132		$29,177
Cost of sales and expenses	(26,517	)	(1,085	)	(27,602	)
Joint venture net income	$1,528		$47		$1,575
Our share of net income	$1,467		$23		$1,490

“(Loss) income from unconsolidated joint ventures” is reflected as a separate line in the accompanying Condensed Consolidated Statements of Operations and reflects our proportionate share of the income or loss of these unconsolidated homebuilding and land development joint ventures. The difference between our share of the income or loss from these unconsolidated joint ventures in the tables above compared to the Condensed Consolidated Statements of Operations is due primarily to the reclassification of the intercompany portion of management fee income from certain joint ventures and the deferral of income for lots purchased by us from certain joint ventures. To compensate us for the administrative services we provide as the manager of certain joint ventures we receive a management fee based on a percentage of the applicable joint venture’s revenues. These management fees, which totaled $0.8 million and $1.2 million for the three months ended January 31, 2016 and 2015, respectively, are recorded in “Homebuilding: Selling, general and administrative” on the Condensed Consolidated Statement of Operations.

In determining whether or not we must consolidate joint ventures that we manage, we assess whether the other partners have specific rights to overcome the presumption of control by us as the manager of the joint venture. In most cases, the presumption is overcome because the joint venture agreements require that both partners agree on establishing the operations and capital decisions of the partnership, including budgets in the ordinary course of business.

Typically, our unconsolidated joint ventures obtain separate project specific mortgage financing. The amount of financing is generally targeted to be no more than 50% of the joint venture’s total assets. For some of our joint ventures, obtaining financing was challenging, therefore, some of our joint ventures are capitalized only with equity. The total debt to capitalization ratio of all our joint ventures is currently 30%. Any joint venture financing is on a nonrecourse basis, with guarantees from us limited only to performance and completion of development, environmental warranties and indemnification, standard indemnification for fraud, misrepresentation and other similar actions, including a voluntary bankruptcy filing. In some instances, the joint venture entity is considered a VIE under ASC 810-10 “Consolidation – Overall” due to the returns being capped to the equity holders; however, in these instances, we have determined that we are not the primary beneficiary, and therefore we do not consolidate these entities.

Note 19 - Recent Accounting Pronouncements

3 Months Ended

Jan. 31, 2016

Description of New Accounting Pronouncements Not yet Adopted [Text Block]

19.

Recent Accounting Pronouncements

In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-04, “Receivables - Troubled Debt Restructurings by Creditors,” which clarifies when an in substance repossession or foreclosure of residential real estate property collateralizing a consumer mortgage loan has occurred. By doing so, this guidance helps determine when the creditor should derecognize the loan receivable and recognize the real estate property. The guidance was effective for the Company beginning November 1, 2015 and did not have a material impact on the Company’s Condensed Consolidated Financial Statements.

In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers” (Topic 606), (“ASU 2014-09”). ASU 2014-09 requires entities to recognize revenue that represents the transfer of promised goods or services to customers in an amount equivalent to the consideration to which the entity expects to be entitled to in exchange for those goods or services. The following steps should be applied to determine this amount: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. ASU 2014-09 supersedes the revenue recognition requirements in ASU 605, “Revenue Recognition,” and most industry-specific guidance in the Accounting Standards Codification. In August 2015, the FASB issued ASU 2015-14 on this same topic, which defers for one year the effective date of ASU 2014-09, therefore making the guidance effective for the Company beginning November 1, 2018. Additionally, the FASB also decided to permit entities to early adopt the standard, which allows for either full retrospective or modified retrospective methods of adoption, for reporting periods beginning after December 15, 2016. We are currently evaluating the impact of adopting this guidance on our Condensed Consolidated Financial Statements.

In August 2014, the FASB issued ASU 2014-15, “Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”), which requires management to perform interim and annual assessments on whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year of the date the financial statements are issued and to provide related disclosures, if required. ASU 2014-15 is effective for the Company for our fiscal year ending October 31, 2017. Early adoption is permitted. We do not anticipate the adoption of ASU 2014-15 to have a material impact on the Company’s Condensed Consolidated Financial Statements.

In February 2015, the FASB issued ASU 2015-02, “Consolidation (Topic 810): Amendments to the Consolidation Analysis” (“ASU 2015-02”), which amends the consolidation requirements in ASC 810, primarily related to limited partnerships and VIEs. ASU 2015-02 is effective for the Company beginning on November 1, 2016. Early adoption is permitted. We do not anticipate the adoption of ASU 2015-02 to have a material impact on the Company’s Condensed Consolidated Financial Statements.

In April 2015, the FASB issued ASU 2015-03, “Interest - Imputation of Interest” (“ASU 2015-03”), which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. This new guidance is a change from the current treatment of recording debt issuance costs as an asset representing a deferred charge, and is consistent with the accounting treatment for debt discounts. The guidance, which requires retrospective application, is effective for the Company beginning November 1, 2016. Early adoption is permitted. The adoption of ASU 2015-03 will result in reclassification of our deferred bond issuance costs from assets to an offset of our notes payable on the Company’s Consolidated Financial Statements. Additionally, in August 2015, as a follow-up to ASU 2015-03, the FASB issued ASU 2015-15 “Interest – Imputation of Interest (Subtopic 835-30)” (“ASU 2015-15”). ASU 2015-15 addresses the presentation of debt issuance costs for line-of-credit arrangements, allowing an entity to defer and present debt issuance costs as an asset and subsequently amortize the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The adoption of ASU 2015-15 will be concurrent with the adoption of ASU 2015-03. The Company does not expect ASU 2015-15 to have a material impact on the Company’s Condensed Consolidated Financial Statements.

Note 20 - Fair Value of Financial Instruments

3 Months Ended

Jan. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

20.

Fair Value of Financial Instruments

ASC 820, “Fair Value Measurements and Disclosures,” provides a framework for measuring fair value, expands disclosures about fair-value measurements and establishes a fair-value hierarchy which prioritizes the inputs used in measuring fair value summarized as follows:

Level 1:

Fair value determined based on quoted prices in active markets for identical assets.

Level 2:

Fair value determined using significant other observable inputs.

Level 3:

Fair value determined using significant unobservable inputs.

Our financial instruments measured at fair value on a recurring basis are summarized below:

(In thousands)	Fair Value Hierarchy	Fair Value at January 31, 2016		Fair Value at October 31, 2015

Mortgage loans held for sale (1)	Level 2	$165,194		$129,818
Interest rate lock commitments	Level 2	401		(7	)
Forward contracts	Level 2	(634	)	509
Total		$164,961		$130,320

(1) The aggregate unpaid principal balance was $153.1 million and $122.7 million at January 31, 2016 and October 31, 2015, respectively.

We elected the fair value option for our loans held for sale for mortgage loans originated subsequent to October 31, 2008, in accordance with ASC 825, “Financial Instruments,” which permits us to measure financial instruments at fair value on a contract-by-contract basis. Management believes that the election of the fair value option for loans held for sale improves financial reporting by mitigating volatility in reported earnings caused by measuring the fair value of the loans and the derivative instruments used to economically hedge them without having to apply complex hedge accounting provisions. Fair value of loans held for sale is based on independent quoted market prices, where available, or the prices for other mortgage loans with similar characteristics.

The Financial Services segment had a pipeline of loan applications in process of $763.9 million at January 31, 2016. Loans in process for which interest rates were committed to the borrowers totaled $68.7 million as of January 31, 2016. Substantially all of these commitments were for periods of 60 days or less. Since a portion of these commitments is expected to expire without being exercised by the borrowers, the total commitments do not necessarily represent future cash requirements.

The Financial Services segment uses investor commitments and forward sales of mandatory MBS to hedge its mortgage-related interest rate exposure. These instruments involve, to varying degrees, elements of credit and interest rate risk. Credit risk is managed by entering into MBS forward commitments, option contracts with investment banks, federally regulated bank affiliates and loan sales transactions with permanent investors meeting the segment’s credit standards. The segment’s risk, in the event of default by the purchaser, is the difference between the contract price and fair value of the MBS forward commitments and option contracts. At January 31, 2016, the segment had open commitments amounting to $26.5 million to sell MBS with varying settlement dates through February 22, 2016.

The assets accounted for using the fair value option are initially measured at fair value. Gains and losses from initial measurement and subsequent changes in fair value are recognized in the Financial Services segment’s income. The changes in fair values that are included in income are shown, by financial instrument and financial statement line item, below:

	Three Months Ended January 31, 2016
(In thousands)	Mortgage Loans Held For Sale	Interest Rate Lock Commitments	Forward Contracts

Changes in fair value included in net loss all reflected in financial services revenues	$5,007	$407	$(1,143	)

	Three Months Ended January 31, 2015
(In thousands)	Mortgage Loans Held For Sale	Interest Rate Lock Commitments	Forward Contracts

Changes in fair value included in net loss all reflected in financial services revenues	$60	$266	$(382	)

The Company’s assets measured at fair value on a nonrecurring basis are those assets for which the Company has recorded valuation adjustments and write-offs during the three months ended January 31, 2016 and 2015. The assets measured at fair value on a nonrecurring basis are all within the Company’s Homebuilding operations and are summarized below:

Nonfinancial Assets

		Three Months Ended January 31, 2016

(In thousands)	Fair Value Hierarchy	Pre- Impairment Amount	Total Losses		Fair Value

Sold and unsold homes and lots under development	Level 3	$28,528	$(9,669	)	$18,859
Land and land options held for future development or sale	Level 3	$157	$(48	)	$109

Nonfinancial Assets

		Three Months Ended January 31, 2015

(In thousands)	Fair Value Hierarchy	Pre- Impairment Amount	Total Losses		Fair Value

Sold and unsold homes and lots under development	Level 3	$5,701	$(923	)	$4,778
Land and land options held for future development or sale	Level 3	$-	$-		$-

We record impairment losses on inventories related to communities under development and held for future development when events and circumstances indicate that they may be impaired and the undiscounted cash flows estimated to be generated by those assets are less than their related carrying amounts. If the expected undiscounted cash flows are less than the carrying amount, then the community is written down to its fair value. We estimate the fair value of each impaired community by determining the present value of its estimated future cash flows at a discount rate commensurate with the risk of the respective community. Should the estimates or expectations used in determining cash flows or fair value decrease or differ from current estimates in the future, we may be required to recognize additional impairments. We recorded inventory impairments, which are included in the Condensed Consolidated Statements of Operations as “Inventory impairment loss and land option write-offs” and deducted from Inventory of $9.7 million and $0.9 million for the three months ended January 31, 2016 and 2015, respectively.

The fair value of our cash equivalents, restricted cash and cash equivalents and borrowings under the revolving credit facility approximates their carrying amount, based on Level 1 inputs.

The fair value of each series of the senior unsecured notes (other than the senior exchangeable notes and the senior amortizing notes) is estimated based on recent trades or quoted market prices for the same issues or based on recent trades or quoted market prices for our debt of similar security and maturity to achieve comparable yields, which are Level 2 measurements. The fair value of the senior unsecured notes (all series in the aggregate), other than the senior exchangeable notes and senior amortizing notes, was estimated at $445.5 million and $689.6 million as of January 31, 2016 and October 31, 2015, respectively.

The fair value of each of the senior secured notes (all series in the aggregate), the senior amortizing notes and the senior exchangeable notes is estimated based on third party broker quotes, a Level 3 measurement. The fair value of the senior secured notes (all series in the aggregate), the senior amortizing notes and the senior exchangeable notes were estimated at $705.4 million, $10.5 million and $65.1 million, respectively, as of January 31, 2016. As of October 31, 2015, the fair value of the senior secured notes (all series in the aggregate), the senior amortizing notes and the senior exchangeable notes were estimated at $869.4 million, $12.8 million and $69.0 million, respectively.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Disclosure Text Block Supplement [Abstract]

Note 21 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors

3 Months Ended

Jan. 31, 2016

Condensed Financial Statements [Text Block]

21.

Financial Information of Subsidiary Issuer and Subsidiary Guarantors

Hovnanian Enterprises, Inc., the parent company (the “Parent”), is the issuer of publicly traded common stock and preferred stock, which is represented by depository shares. One of its wholly owned subsidiaries, K. Hovnanian Enterprises, Inc. (the “Subsidiary Issuer”), acts as a finance entity that, as of January 31, 2016, had issued and outstanding $992.0 million of senior secured notes ($981.7 million, net of discount), $607.6 million senior notes and $10.5 million senior amortizing notes and $74.7 million senior exchangeable notes (issued as components of our 6.0% Exchangeable Note Units). The senior secured notes, senior notes, senior amortizing notes and senior exchangeable notes are fully and unconditionally guaranteed by the Parent.

In addition to the Parent, each of the wholly owned subsidiaries of the Parent other than the Subsidiary Issuer (collectively, “Guarantor Subsidiaries”), with the exception of our home mortgage subsidiaries, certain of our title insurance subsidiaries, joint ventures, subsidiaries holding interests in our joint ventures and our foreign subsidiary (collectively, the “Nonguarantor Subsidiaries”), have guaranteed fully and unconditionally, on a joint and several basis, the obligations of the Subsidiary Issuer to pay principal and interest under the senior secured notes (other than the 2021 Notes), senior notes, senior exchangeable notes and senior amortizing notes. The Guarantor Subsidiaries are directly or indirectly 100% owned subsidiaries of the Parent. The 2021 Notes are guaranteed by the Guarantor Subsidiaries and the members of the Secured Group (see Note 11).

The senior unsecured notes (except for the 7.0% Senior Notes due 2019 (the “2019 Notes”) and the 8.0% Senior Notes due 2019), senior amortizing notes and senior exchangeable notes have been registered under the Securities Act of 1933, as amended (the “Act”). The 2019 Notes, the 8.0% Senior Notes due 2019, the 2020 Secured Notes and the 2021 Notes (see Note 11) are not, pursuant to the indentures under which such notes were issued, required to be registered under the Act. The Condensed Consolidating Financial Statements presented below are in respect of our registered notes only and not the 2019 Notes, the 8.0% Senior Notes due 2019, the 2020 Secured Notes or the 2021 Notes (however, the Guarantor Subsidiaries for the 2019 Notes, the 8.0% Senior Notes due 2019 and the 2020 Secured Notes are the same as those represented by the accompanying Condensed Consolidating Financial Statements). In lieu of providing separate financial statements for the Guarantor Subsidiaries of our registered notes, we have included the accompanying Condensed Consolidating Condensed Financial Statements. Therefore, separate financial statements and other disclosures concerning such Guarantor Subsidiaries are not presented.

The following Condensed Consolidating Financial Statements present the results of operations, financial position and cash flows of (i) the Parent, (ii) the Subsidiary Issuer, (iii) the Guarantor Subsidiaries, (iv) the Nonguarantor Subsidiaries and (v) the eliminations to arrive at the information for Hovnanian Enterprises, Inc. on a consolidated basis.

CONDENSED CONSOLIDATING BALANCE SHEET

JANUARY 31, 2016

(In Thousands)

	Parent		Subsidiary Issuer		Guarantor Subsidiaries	Nonguarantor Subsidiaries	Eliminations		Consolidated
ASSETS:
Homebuilding	$-		$147,194		$1,503,913	$420,787	$-		$2,071,894
Financial services					16,099	177,359			193,458
Income taxes receivable	140,493		(82,294	)	229,167	22			287,388
Intercompany receivable			1,471,938			60,268	(1,532,206	)	-
Investments in and amounts due from consolidated subsidiaries					398,585		(398,585	)	-
Total assets	$140,493		$1,536,838		$2,147,764	$658,436	$(1,930,791	)	$2,552,740

LIABILITIES AND EQUITY:
Homebuilding	$2,508		$112		$667,519	$106,991	$-		$777,130
Financial services					15,633	152,418			168,051
Notes payable			1,747,427		2,833	439			1,750,699
Intercompany payable	179,839				1,352,367		(1,532,206	)	-
Amounts due to consolidated subsidiaries	101,286		12,497				(113,783	)	-
Stockholders’ (deficit) equity	(143,140	)	(223,198	)	109,412	398,588	(284,802	)	(143,140	)
Total liabilities and equity	$140,493		$1,536,838		$2,147,764	$658,436	$(1,930,791	)	$2,552,740

CONDENSED CONSOLIDATING BALANCE SHEET

OCTOBER 31, 2015

(In Thousands)

	Parent		Subsidiary Issuer		Guarantor Subsidiaries	Nonguarantor Subsidiaries	Eliminations		Consolidated
ASSETS:
Homebuilding	$-		$230,358		$1,553,811	$367,869	$ -		$2,152,038
Financial services					15,680	144,301			159,981
Income taxes receivable	128,176		(89,212	)	251,293	22			290,279
Intercompany receivable			1,575,712			58,280	(1,633,992	)	-
Investments in and amounts due from consolidated subsidiaries			1,013		383,032		(384,045	)	-
Total assets	$128,176		$1,717,871		$2,203,816	$570,472	$(2,018,037	)	$2,602,298

LIABILITIES AND EQUITY:
Homebuilding	$3,076		$87		$588,854	$65,947	$-		$657,964
Financial services					15,677	121,106			136,783
Notes payable			1,933,119		2,132	384			1,935,635
Intercompany payable	180,681				1,453,311		(1,633,992	)	-
Amounts due to consolidated subsidiaries	72,503						(72,503	)	-
Stockholders’ (deficit) equity	(128,084	)	(215,335	)	143,842	383,035	(311,542	)	(128,084	)
Total liabilities and equity	$128,176		$1,717,871		$2,203,816	$570,472	$(2,018,037	)	$2,602,298

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

THREE MONTHS ENDED JANUARY 31, 2016

(In Thousands)

	Parent		Subsidiary Issuer		Guarantor Subsidiaries		Nonguarantor Subsidiaries		Eliminations		Consolidated
Revenues:
Homebuilding	$-		$-		$474,910		$82,469		$-		$557,379
Financial services					2,245		15,981				18,226
Intercompany charges			34,540						(34,540	)	-
Total revenues	-		34,540		477,155		98,450		(34,540	)	575,605

Expenses:
Homebuilding	1,940		35,811		466,620		74,733				579,104
Financial services					1,624		6,591				8,215
Intercompany charges					34,463		77		(34,540	)	-
Total expenses	1,940		35,811		502,707		81,401		(34,540	)	587,319
(Loss) income from unconsolidated joint ventures					16		(1,496	)			(1,480	)
(Loss) income before income taxes	(1,940	)	(1,271	)	(25,536	)	15,553		-		(13,194	)
State and federal income tax provision (benefit)	(14,550	)	(6,918	)	24,447						2,979
Equity in (loss) income of consolidated subsidiaries	(28,783	)	(13,510	)	15,553				26,740		-
Net (loss) income	$(16,173	)	$(7,863	)	$(34,430	)	$15,553		$26,740		$(16,173	)

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

THREE MONTHS ENDED JANUARY 31, 2015

(In Thousands)

	Parent		Subsidiary Issuer		Guarantor Subsidiaries		Nonguarantor Subsidiaries	Eliminations		Consolidated
Revenues:
Homebuilding	$-		$-		$365,189		$69,403	$-		$434,592
Financial services					1,833		9,289			11,122
Intercompany charges			28,512					(28,512	)	-
Total revenues	-		28,512		367,022		78,692	(28,512	)	445,714

Expenses:
Homebuilding	3,711		37,828		357,509		60,481			459,529
Financial services	68				1,573		5,676			7,317
Intercompany charges					28,382		130	(28,512	)	-
Total expenses	3,779		37,828		387,464		66,287	(28,512	)	466,846
Income (loss) from unconsolidated joint ventures					(14	)	1,466			1,452
(Loss) income before income taxes	(3,779	)	(9,316	)	(20,456	)	13,871	-		(19,680	)
State and federal income tax (benefit) provision	(12,286	)			6,982					(5,304	)
Equity in (loss) income of consolidated subsidiaries	(22,883	)	(12,806	)	13,871			21,818		-
Net (loss) income	$(14,376	)	$(22,122	)	$(13,567	)	$13,871	$21,818		$(14,376	)

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

THREE MONTHS ENDED JANUARY 31, 2016

(In Thousands)

	Parent		Subsidiary Issuer		Guarantor Subsidiaries		Nonguarantor Subsidiaries		Eliminations		Consolidated
Cash flows from operating activities:
Net (loss) income	$(16,173	)	$(7,863	)	$(34,430	)	$15,553		$26,740		$(16,173	)
Adjustments to reconcile net (loss) income to net cash used in operating activities	(11,768	)	(16,045	)	80,623		(74,978	)	(26,740	)	(48,908	)
Net cash (used in) provided by operating activities	(27,941	)	(23,908	)	46,193		(59,425	)	-		(65,081	)
Cash flows from investing activities:
Proceeds from sale of property and assets					72		21				93
Purchase of property, equipment & other fixed assets and acquisitions					(1,223	)	(30	)			(1,253	)
Increase in restricted cash related to mortgage company							(81	)			(81	)
Decrease in restricted cash related to letters of credit			52								52
Investments in and advances to unconsolidated joint ventures			(130	)	(865	)	(10,502	)			(11,497	)
Distributions of capital from unconsolidated joint ventures					80		2,052				2,132
Intercompany investing activities			117,284						(117,284	)	-
Net cash (used in) provided by investing activities	-		117,206		(1,936	)	(8,540	)	(117,284	)	(10,554	)
Cash flows from financing activities:
Net payments from mortgages and notes					(10,035	)	(5,358	)			(15,393	)
Net proceeds from model sale leaseback financing programs					2,118		111				2,229
Net proceeds from land bank financing programs					106,813		28,261				135,074
Payments related to senior notes and senior amortizing notes			(175,040	)							(175,040	)
Net proceeds related to mortgage warehouse lines of credit							31,481				31,481
Deferred financing cost from land bank financing program and note issuances					(2,496	)	(1,387	)			(3,883	)
Intercompany financing activities	27,941				(143,237	)	(1,988	)	117,284		-
Net cash (used in) provided by financing activities	27,941		(175,040	)	(46,837	)	51,120		117,284		(25,532	)
Net decrease in cash	-		(81,742	)	(2,580	)	(16,845	)	-		(101,167	)
Cash and cash equivalents balance, beginning of period			199,318		(4,800	)	59,227				253,745
Cash and cash equivalents balance, end of period	$-		$117,576		$(7,380	)	$42,382		$-		$152,578

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

THREE MONTHS ENDED JANUARY 31, 2015

(In Thousands)

	Parent		Subsidiary Issuer		Guarantor Subsidiaries		Nonguarantor Subsidiaries		Eliminations		Consolidated
Cash flows from operating activities:
Net (loss) income	$(14,376	)	$(22,122	)	$(13,567	)	$13,871		$21,818		$(14,376	)
Adjustments to reconcile net (loss) income to net cash used in operating activities	(7,520	)	3,248		(39,948	)	(115,203	)	(21,818	)	(181,241	)
Net cash used in operating activities	(21,896	)	(18,874	)	(53,515	)	(101,332	)	-		(195,617	)
Cash flows from investing activities:
Proceeds from sale of property and assets					156		12				168
Purchase of property, equipment & other fixed assets and acquisitions					(879	)					(879	)
Decrease in restricted cash related to mortgage company							387				387
Investments in and advances to unconsolidated joint ventures			81		146		(11,962	)			(11,735	)
Distribution of capital from unconsolidated joint ventures							627				627
Intercompany investing activities			(159,012	)					159,012		-
Net cash used in investing activities			(158,931	)	(577	)	(10,936	)	159,012		(11,432	)
Cash flows from financing activities:
Net proceeds from mortgages and notes					(10,277	)	6,958				(3,319	)
Net proceeds from model sale leaseback financing programs					(5,606	)	(196	)			(5,802	)
Net proceeds from land bank financing programs					(6,332	)	(871	)			(7,203	)
Net proceeds from senior notes			247,938								247,938
Net proceeds related to mortgage warehouse lines of credit							(8,153	)			(8,153	)
Deferred financing cost from land bank financing program and note issuances			(4,627	)	(114	)	(270	)			(5,011	)
Intercompany financing activities	21,896				76,732		60,384		(159,012	)	-
Net cash provided by financing activities	21,896		243,311		54,403		57,852		(159,012	)	218,450
Net increase (decrease) in cash and cash equivalents	-		65,506		311		(54,416	)	-		11,401
Cash and cash equivalents balance, beginning of period			159,508		(4,726	)	107,116				261,898
Cash and cash equivalents balance, end of period	$-		$225,014		$(4,415	)	$52,700		$-		$273,299

Note 22 - Transactions with Related Parties

3 Months Ended

Jan. 31, 2016

22.

Transactions with Related Parties

During the three months ended January 31, 2016 and 2015, an engineering firm owned by Tavit Najarian, a relative of our Chairman of the Board of Directors and Chief Executive Officer, provided services to the Company totaling $0.3 million for both periods. Neither the Company nor the Chairman of the Board of Directors and Chief Executive Officer has a financial interest in the relative’s company from whom the services were provided.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

Schedule of Real Estate Inventory Capitalized Interest Costs [Table Text Block]

Note 3 - Interest (Tables)

3 Months Ended

Jan. 31, 2016

Homebuilding Interest [Abstract]

	Three Months Ended January 31,
(In thousands)	2016	2015

Interest capitalized at beginning of period	$123,898	$109,158
Plus interest incurred(1)	41,959	41,472
Less cost of sales interest expensed	16,843	11,318
Less other interest expensed(2)(3)	21,225	25,071
Less interest contributed to unconsolidated joint venture(4)	10,676	-
Interest capitalized at end of period(5)	$117,113	$114,241

Cash Paid for Interest, Net of Capitalized Interest [Table Text Block]

	Three Months Ended January 31,
(In thousands)	2016	2015
Other interest expensed	$21,225	$25,071
Interest paid by our mortgage and finance subsidiaries	559	408
Decrease in accrued interest	11,216	1,010
Cash paid for interest, net of capitalized interest	$33,000	$26,489

Note 6 - Warranty Costs (Tables)

3 Months Ended

Jan. 31, 2016

Product Warranties Disclosures [Abstract]

Schedule of Product Warranty Liability [Table Text Block]

	Three Months Ended January 31,
(In thousands)	2016		2015

Balance, beginning of period	$135,053		$178,008
Additions – Selling, general and administrative	4,623		5,249
Additions – Cost of sales	3,382		3,181
Charges incurred during the period	(9,669	)	(4,605	)
Changes to pre-existing reserves	-		-
Balance, end of period	$133,389		$181,833

Note 9 - Mortgage Loans Held for Sale (Tables)

3 Months Ended

Jan. 31, 2016

Receivables [Abstract]

Allowance for Credit Losses on Financing Receivables [Table Text Block]

	Three Months Ended January 31,
(In thousands)	2016		2015

Loan origination reserves, beginning of period	$8,025		$7,352
Provisions for losses during the period	41		61
Adjustments to pre-existing provisions for losses from changes in estimates	(38	)	568
Loan origination reserves, end of period	$8,028		$7,981

Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Tables)

3 Months Ended

Jan. 31, 2016

Schedule of Long-term Debt Instruments [Table Text Block]

(In thousands)	January 31, 2016	October 31, 2015
Senior Secured Notes:
7.25% Senior Secured First Lien Notes due October 15, 2020	$577,000	$577,000
9.125% Senior Secured Second Lien Notes due November 15, 2020	220,000	220,000
2.0% Senior Secured Notes due November 1, 2021 (net of discount)	53,141	53,139
5.0% Senior Secured Notes due November 1, 2021 (net of discount)	131,575	131,207
Total Senior Secured Notes	$981,716	$981,346
Senior Notes:
6.25% Senior Notes due January 15, 2016 (net of discount)	$-	$172,744
7.5% Senior Notes due May 15, 2016	86,532	86,532
8.625% Senior Notes due January 15, 2017	121,043	121,043
7.0% Senior Notes due January 15, 2019	150,000	150,000
8.0% Senior Notes due November 1, 2019	250,000	250,000
Total Senior Notes	$607,575	$780,319
11.0% Senior Amortizing Notes due December 1, 2017	$10,516	$12,811
Senior Exchangeable Notes due December 1, 2017	$74,720	$73,771

Note 17 - Operating and Reporting Segments (Tables) [Line Items]

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

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-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
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-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

+ Details

Note 17 - Operating and Reporting Segments (Tables)

3 Months Ended

Jan. 31, 2016

Schedule of Segment Reporting Information, by Segment [Table Text Block]

(In thousands)	January 31, 2016	October 31, 2015

Assets:
Northeast	$288,384	$321,983
Mid-Atlantic	345,217	342,159
Midwest	176,399	197,899
Southeast	255,971	223,206
Southwest	469,940	465,740
West	286,351	259,943
Total homebuilding	1,822,262	1,810,930
Financial services	193,458	159,981
Corporate and unallocated (1)	537,020	631,387
Total assets	$2,552,740	$2,602,298

Operating Segments [Member]

Note 17 - Operating and Reporting Segments (Tables) [Line Items]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	Three Months Ended January 31,
(In thousands)	2016		2015

Revenues:
Northeast	$72,504		$50,730
Mid-Atlantic	93,820		81,185
Midwest	91,920		64,439
Southeast	39,252		37,894
Southwest	204,325		167,187
West	55,578		33,193
Total homebuilding	557,399		434,628
Financial services	18,226		11,122
Corporate and unallocated	(20	)	(36	)
Total revenues	$575,605		$445,714

(Loss) income before income taxes:
Northeast	$2,734		$(3,153	)
Mid-Atlantic	2,622		5,177
Midwest	(5,559	)	3,711
Southeast	(1,834	)	(1,156	)
Southwest	16,369		11,325
West	(5,968	)	(2,373	)
Homebuilding income before income taxes	8,364		13,531
Financial services	10,011		3,805
Corporate and unallocated	(31,569	)	(37,016	)
Loss before income taxes	$(13,194	)	$(19,680	)

Note 18 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures (Tables)

3 Months Ended

Jan. 31, 2016

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments [Table Text Block]

(Dollars in thousands)	January 31, 2016
	Homebuilding		Land Development		Total
Assets:
Cash and cash equivalents	$33,037		$1,500		$34,537
Inventories	371,231		11,154		382,385
Other assets	16,919		-		16,919
Total assets	$421,187		$12,654		$433,841

Liabilities and equity:
Accounts payable and accrued liabilities	$34,075		$560		$34,635
Notes payable	115,345		3,319		118,664
Total liabilities	149,420		3,879		153,299
Equity of:
Hovnanian Enterprises, Inc.	64,731		3,058		67,789
Others	207,036		5,717		212,753
Total equity	271,767		8,775		280,542
Total liabilities and equity	$421,187		$12,654		$433,841
Debt to capitalization ratio	30	%	27	%	30	%

(Dollars in thousands)	October 31, 2015
	Homebuilding		Land Development		Total
Assets:
Cash and cash equivalents	$27,856		$1,755		$29,611
Inventories	314,814		11,767		326,581
Other assets	11,225		-		11,225
Total assets	$353,895		$13,522		$367,417

Liabilities and equity:
Accounts payable and accrued liabilities	$29,994		$669		$30,663
Notes payable	112,554		3,774		116,328
Total liabilities	142,548		4,443		146,991
Equity of:
Hovnanian Enterprises, Inc.	57,336		3,122		60,458
Others	154,011		5,957		159,968
Total equity	211,347		9,079		220,426
Total liabilities and equity	$353,895		$13,522		$367,417
Debt to capitalization ratio	35	%	29	%	35	%

	For the Three Months Ended January 31, 2016
(In thousands)	Homebuilding		Land Development		Total

Revenues	$20,266		$1,096		$21,362
Cost of sales and expenses	(24,179	)	(1,223	)	(25,402	)
Joint venture net loss	$(3,913	)	$(127	)	$(4,040	)
Our share of net loss	$(1,496	)	$(64	)	$(1,560	)

	For the Three Months Ended January 31, 2015
(In thousands)	Homebuilding		Land Development		Total

Revenues	$28,045		$1,132		$29,177
Cost of sales and expenses	(26,517	)	(1,085	)	(27,602	)
Joint venture net income	$1,528		$47		$1,575
Our share of net income	$1,467		$23		$1,490

Note 20 - Fair Value of Financial Instruments (Tables)

3 Months Ended

Jan. 31, 2016

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

(In thousands)	Fair Value Hierarchy	Fair Value at January 31, 2016		Fair Value at October 31, 2015

Mortgage loans held for sale (1)	Level 2	$165,194		$129,818
Interest rate lock commitments	Level 2	401		(7	)
Forward contracts	Level 2	(634	)	509
Total		$164,961		$130,320

Fair Value, Option, Quantitative Disclosures [Table Text Block]

	Three Months Ended January 31, 2016
(In thousands)	Mortgage Loans Held For Sale	Interest Rate Lock Commitments	Forward Contracts

Changes in fair value included in net loss all reflected in financial services revenues	$5,007	$407	$(1,143	)

	Three Months Ended January 31, 2015
(In thousands)	Mortgage Loans Held For Sale	Interest Rate Lock Commitments	Forward Contracts

Changes in fair value included in net loss all reflected in financial services revenues	$60	$266	$(382	)

Fair Value Measurements, Nonrecurring [Table Text Block]

		Three Months Ended January 31, 2016

(In thousands)	Fair Value Hierarchy	Pre- Impairment Amount	Total Losses		Fair Value

Sold and unsold homes and lots under development	Level 3	$28,528	$(9,669	)	$18,859
Land and land options held for future development or sale	Level 3	$157	$(48	)	$109

		Three Months Ended January 31, 2015

(In thousands)	Fair Value Hierarchy	Pre- Impairment Amount	Total Losses		Fair Value

Sold and unsold homes and lots under development	Level 3	$5,701	$(923	)	$4,778
Land and land options held for future development or sale	Level 3	$-	$-		$-

Tabular disclosure of the application of the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. Such disclosure might be expected to include: (1) for items included in the statement of financial position: (a) for each line item in the statement of financial position that includes an item or items for which the fair value option has been elected, provide the aggregate carrying amount of ineligible items included in each line item in the balance sheet, if any; (b) the difference between the aggregate fair value and the aggregate unpaid principal balance (assuming contractual principal amounts and fair value option elected) of: (i) loans and long-term receivables (other than securities otherwise reported at fair value) and (ii) long-term debt instruments; (c) for loans held as assets for which the fair value option has been elected: (i) the aggregate fair value of loans that are 90 days or more past due, (ii) if the policy is to recognize interest income separately from other changes in fair value, the aggregate fair value of loans in nonaccrual status, and (iii) the difference between the aggregate fair value and the aggregate unpaid principal balance for loans that are 90 days or more past due, in nonaccrual status, or both; (2) for items included in the income statement: (a) the amounts of gains and losses from fair value changes included in earnings and in which line in the income statement those gains and losses are reported whether or not combined with gains and losses from items required to be accounted for at fair value; (b) for loans and other receivables held as assets, the estimated amount of gains or losses included in earnings attributable to changes in instrument-specific credit risk; (c) for liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk, the estimated amount of gains and losses from fair value changes included in earnings that are attributable to changes in the instrument-specific credit risk; and (3) certain other disclosures as required or determined to be provided.

Disclosure Text Block Supplement [Abstract]

Note 21 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors (Tables)

3 Months Ended

Jan. 31, 2016

Condensed Balance Sheet [Table Text Block]

	Parent		Subsidiary Issuer		Guarantor Subsidiaries	Nonguarantor Subsidiaries	Eliminations		Consolidated
ASSETS:
Homebuilding	$-		$147,194		$1,503,913	$420,787	$-		$2,071,894
Financial services					16,099	177,359			193,458
Income taxes receivable	140,493		(82,294	)	229,167	22			287,388
Intercompany receivable			1,471,938			60,268	(1,532,206	)	-
Investments in and amounts due from consolidated subsidiaries					398,585		(398,585	)	-
Total assets	$140,493		$1,536,838		$2,147,764	$658,436	$(1,930,791	)	$2,552,740

LIABILITIES AND EQUITY:
Homebuilding	$2,508		$112		$667,519	$106,991	$-		$777,130
Financial services					15,633	152,418			168,051
Notes payable			1,747,427		2,833	439			1,750,699
Intercompany payable	179,839				1,352,367		(1,532,206	)	-
Amounts due to consolidated subsidiaries	101,286		12,497				(113,783	)	-
Stockholders’ (deficit) equity	(143,140	)	(223,198	)	109,412	398,588	(284,802	)	(143,140	)
Total liabilities and equity	$140,493		$1,536,838		$2,147,764	$658,436	$(1,930,791	)	$2,552,740

	Parent		Subsidiary Issuer		Guarantor Subsidiaries	Nonguarantor Subsidiaries	Eliminations		Consolidated
ASSETS:
Homebuilding	$-		$230,358		$1,553,811	$367,869	$ -		$2,152,038
Financial services					15,680	144,301			159,981
Income taxes receivable	128,176		(89,212	)	251,293	22			290,279
Intercompany receivable			1,575,712			58,280	(1,633,992	)	-
Investments in and amounts due from consolidated subsidiaries			1,013		383,032		(384,045	)	-
Total assets	$128,176		$1,717,871		$2,203,816	$570,472	$(2,018,037	)	$2,602,298

LIABILITIES AND EQUITY:
Homebuilding	$3,076		$87		$588,854	$65,947	$-		$657,964
Financial services					15,677	121,106			136,783
Notes payable			1,933,119		2,132	384			1,935,635
Intercompany payable	180,681				1,453,311		(1,633,992	)	-
Amounts due to consolidated subsidiaries	72,503						(72,503	)	-
Stockholders’ (deficit) equity	(128,084	)	(215,335	)	143,842	383,035	(311,542	)	(128,084	)
Total liabilities and equity	$128,176		$1,717,871		$2,203,816	$570,472	$(2,018,037	)	$2,602,298

Condensed Income Statement [Table Text Block]

	Parent		Subsidiary Issuer		Guarantor Subsidiaries		Nonguarantor Subsidiaries		Eliminations		Consolidated
Revenues:
Homebuilding	$-		$-		$474,910		$82,469		$-		$557,379
Financial services					2,245		15,981				18,226
Intercompany charges			34,540						(34,540	)	-
Total revenues	-		34,540		477,155		98,450		(34,540	)	575,605

Expenses:
Homebuilding	1,940		35,811		466,620		74,733				579,104
Financial services					1,624		6,591				8,215
Intercompany charges					34,463		77		(34,540	)	-
Total expenses	1,940		35,811		502,707		81,401		(34,540	)	587,319
(Loss) income from unconsolidated joint ventures					16		(1,496	)			(1,480	)
(Loss) income before income taxes	(1,940	)	(1,271	)	(25,536	)	15,553		-		(13,194	)
State and federal income tax provision (benefit)	(14,550	)	(6,918	)	24,447						2,979
Equity in (loss) income of consolidated subsidiaries	(28,783	)	(13,510	)	15,553				26,740		-
Net (loss) income	$(16,173	)	$(7,863	)	$(34,430	)	$15,553		$26,740		$(16,173	)

	Parent		Subsidiary Issuer		Guarantor Subsidiaries		Nonguarantor Subsidiaries	Eliminations		Consolidated
Revenues:
Homebuilding	$-		$-		$365,189		$69,403	$-		$434,592
Financial services					1,833		9,289			11,122
Intercompany charges			28,512					(28,512	)	-
Total revenues	-		28,512		367,022		78,692	(28,512	)	445,714

Expenses:
Homebuilding	3,711		37,828		357,509		60,481			459,529
Financial services	68				1,573		5,676			7,317
Intercompany charges					28,382		130	(28,512	)	-
Total expenses	3,779		37,828		387,464		66,287	(28,512	)	466,846
Income (loss) from unconsolidated joint ventures					(14	)	1,466			1,452
(Loss) income before income taxes	(3,779	)	(9,316	)	(20,456	)	13,871	-		(19,680	)
State and federal income tax (benefit) provision	(12,286	)			6,982					(5,304	)
Equity in (loss) income of consolidated subsidiaries	(22,883	)	(12,806	)	13,871			21,818		-
Net (loss) income	$(14,376	)	$(22,122	)	$(13,567	)	$13,871	$21,818		$(14,376	)

Condensed Cash Flow Statement [Table Text Block]

	Parent		Subsidiary Issuer		Guarantor Subsidiaries		Nonguarantor Subsidiaries		Eliminations		Consolidated
Cash flows from operating activities:
Net (loss) income	$(16,173	)	$(7,863	)	$(34,430	)	$15,553		$26,740		$(16,173	)
Adjustments to reconcile net (loss) income to net cash used in operating activities	(11,768	)	(16,045	)	80,623		(74,978	)	(26,740	)	(48,908	)
Net cash (used in) provided by operating activities	(27,941	)	(23,908	)	46,193		(59,425	)	-		(65,081	)
Cash flows from investing activities:
Proceeds from sale of property and assets					72		21				93
Purchase of property, equipment & other fixed assets and acquisitions					(1,223	)	(30	)			(1,253	)
Increase in restricted cash related to mortgage company							(81	)			(81	)
Decrease in restricted cash related to letters of credit			52								52
Investments in and advances to unconsolidated joint ventures			(130	)	(865	)	(10,502	)			(11,497	)
Distributions of capital from unconsolidated joint ventures					80		2,052				2,132
Intercompany investing activities			117,284						(117,284	)	-
Net cash (used in) provided by investing activities	-		117,206		(1,936	)	(8,540	)	(117,284	)	(10,554	)
Cash flows from financing activities:
Net payments from mortgages and notes					(10,035	)	(5,358	)			(15,393	)
Net proceeds from model sale leaseback financing programs					2,118		111				2,229
Net proceeds from land bank financing programs					106,813		28,261				135,074
Payments related to senior notes and senior amortizing notes			(175,040	)							(175,040	)
Net proceeds related to mortgage warehouse lines of credit							31,481				31,481
Deferred financing cost from land bank financing program and note issuances					(2,496	)	(1,387	)			(3,883	)
Intercompany financing activities	27,941				(143,237	)	(1,988	)	117,284		-
Net cash (used in) provided by financing activities	27,941		(175,040	)	(46,837	)	51,120		117,284		(25,532	)
Net decrease in cash	-		(81,742	)	(2,580	)	(16,845	)	-		(101,167	)
Cash and cash equivalents balance, beginning of period			199,318		(4,800	)	59,227				253,745
Cash and cash equivalents balance, end of period	$-		$117,576		$(7,380	)	$42,382		$-		$152,578

	Parent		Subsidiary Issuer		Guarantor Subsidiaries		Nonguarantor Subsidiaries		Eliminations		Consolidated
Cash flows from operating activities:
Net (loss) income	$(14,376	)	$(22,122	)	$(13,567	)	$13,871		$21,818		$(14,376	)
Adjustments to reconcile net (loss) income to net cash used in operating activities	(7,520	)	3,248		(39,948	)	(115,203	)	(21,818	)	(181,241	)
Net cash used in operating activities	(21,896	)	(18,874	)	(53,515	)	(101,332	)	-		(195,617	)
Cash flows from investing activities:
Proceeds from sale of property and assets					156		12				168
Purchase of property, equipment & other fixed assets and acquisitions					(879	)					(879	)
Decrease in restricted cash related to mortgage company							387				387
Investments in and advances to unconsolidated joint ventures			81		146		(11,962	)			(11,735	)
Distribution of capital from unconsolidated joint ventures							627				627
Intercompany investing activities			(159,012	)					159,012		-
Net cash used in investing activities			(158,931	)	(577	)	(10,936	)	159,012		(11,432	)
Cash flows from financing activities:
Net proceeds from mortgages and notes					(10,277	)	6,958				(3,319	)
Net proceeds from model sale leaseback financing programs					(5,606	)	(196	)			(5,802	)
Net proceeds from land bank financing programs					(6,332	)	(871	)			(7,203	)
Net proceeds from senior notes			247,938								247,938
Net proceeds related to mortgage warehouse lines of credit							(8,153	)			(8,153	)
Deferred financing cost from land bank financing program and note issuances			(4,627	)	(114	)	(270	)			(5,011	)
Intercompany financing activities	21,896				76,732		60,384		(159,012	)	-
Net cash provided by financing activities	21,896		243,311		54,403		57,852		(159,012	)	218,450
Net increase (decrease) in cash and cash equivalents	-		65,506		311		(54,416	)	-		11,401
Cash and cash equivalents balance, beginning of period			159,508		(4,726	)	107,116				261,898
Cash and cash equivalents balance, end of period	$-		$225,014		$(4,415	)	$52,700		$-		$273,299

Note 1 - Basis of Presentation (Details)	3 Months Ended
Note 1 - Basis of Presentation (Details)	Jan. 31, 2016
Homebuilding [Member]
Note 1 - Basis of Presentation (Details) [Line Items]
Number of Reportable Segments	6

Note 2 - Stock Compensation (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Note 2 - Stock Compensation (Details) [Line Items]
Allocated Share-based Compensation Expense	$ 1.5	$ 3.5
Allocated Share-based Compensation Expense, Net of Tax		2.6
Employee Stock Option [Member]
Note 2 - Stock Compensation (Details) [Line Items]
Allocated Share-based Compensation Expense	$ 0.1	$ 0.9

Note 3 - Interest (Details) - Interest Costs Incurred, Expensed and Capitalized - USD ($)
$ in Thousands

3 Months Ended

Jan. 31, 2016

Jan. 31, 2015

Interest Costs Incurred, Expensed and Capitalized [Abstract]

Interest capitalized at beginning of period

$ 123,898

$ 109,158

Plus interest incurred(1)

^[1]

41,959

41,472

Less cost of sales interest expensed

16,843

11,318

Less other interest expensed(2)(3)

^[2],[3]

21,225

25,071

Less interest contributed to unconsolidated joint venture(4)

^[4]

10,676

Interest capitalized at end of period(5)

^[5]

$ 117,113

$ 114,241

[1]	Data does not include interest incurred by our mortgage and finance subsidiaries.
[2]	Cash paid for interest, net of capitalized interest, is the sum of other interest expensed, as defined above, and interest paid by our mortgage and finance subsidiaries adjusted for the change in accrued interest on notes payable, which is calculated as follows:
[3]	Other interest expensed includes interest that does not qualify for interest capitalization because our assets that qualify for interest capitalization (inventory under development) do not exceed our debt. Also includes interest on completed homes and land in planning, which does not qualify for capitalization, and therefore is expensed.
[4]	Represents capitalized interest which was included as part of the assets contributed to the joint venture the company entered into in November 2015, as discussed in Note 18. There was no impact to the Condensed Consolidated Statement of Operations as a result of this transaction.
[5]	Capitalized interest amounts are shown gross before allocating any portion of impairments, if any, to capitalized interest.

Note 3 - Interest (Details) - Cash Paid for Interest, Net of Capitalized Interest - USD ($)
$ in Thousands

3 Months Ended

Jan. 31, 2016

Jan. 31, 2015

Cash Paid for Interest, Net of Capitalized Interest [Abstract]

Other interest expensed

^[1],[2]

$ 21,225

$ 25,071

Interest paid by our mortgage and finance subsidiaries

559

408

Decrease in accrued interest

11,216

1,010

Cash paid for interest, net of capitalized interest

$ 33,000

$ 26,489

[1]	Cash paid for interest, net of capitalized interest, is the sum of other interest expensed, as defined above, and interest paid by our mortgage and finance subsidiaries adjusted for the change in accrued interest on notes payable, which is calculated as follows:
[2]	Other interest expensed includes interest that does not qualify for interest capitalization because our assets that qualify for interest capitalization (inventory under development) do not exceed our debt. Also includes interest on completed homes and land in planning, which does not qualify for capitalization, and therefore is expensed.

Note 4 - Reduction of Inventory to Fair Value (Details)
$ in Thousands

3 Months Ended

12 Months Ended

Jan. 31, 2016

USD ($)

Jan. 31, 2015

USD ($)

Oct. 31, 2015

USD ($)

Note 4 - Reduction of Inventory to Fair Value (Details) [Line Items]

Number of Communities Evaluated for Impairment

512

488

Number of Communities Performed Detailed Impairment Calculations

Carrying Value of Communities Tested for Impairment

$ 46,200

$ 20,200

Number of Communities Tested for Impairment for Which Undiscounted Future Cash Flow Only Exceeded Carrying Amount by Less Than 20%

Carrying Value of Communities Tested for Impairment for Which Undiscounted Future Cash Flow Only Exceeded Carrying Amount by Less Than 20%

$ 17,300

$ 11,000

Percentage Undiscounted Cash Flow Exceeds Carrying Amount

20.00%

Impairment of Real Estate

$ 9,700

$ 900

Number of Communities Impaired

Preimpairment Value

$ 28,700

$ 5,700

Land Option Write-offs

$ 2,000

$ 1,300

Number of Walk Away Lots

1,256

1,700

Number of Communities Mothballed

Inventory, Real Estate, Mothballed Communities

$ 76,300

$ 103,000

Inventory, Real Estate, Mothballed Communities, Accumulated Impairment Charges

296,200

334,500

Inventory Real Estate Specific Performance Options

500

1,200

Liabilities from Inventory Real Estate, Specific Performance Optiosn

500

1,200

Note 4 - Reduction of Inventory to Fair Value (Details) [Line Items]

Liabilities from Inventory Real Estate Not Owned

$ 242,409

$ 105,856

^[1]

Homebuilding [Member] | Real Estate Inventory [Member]

Note 4 - Reduction of Inventory to Fair Value (Details) [Line Items]

Fair Value Inputs, Discount Rate

0.00%

19.00%

Model Sale Leaseback Financing Arrangements [Member] | Homebuilding [Member]

Note 4 - Reduction of Inventory to Fair Value (Details) [Line Items]

Inventory Real Estate Other Options

$ 97,900

$ 95,900

Liabilities from Inventory Real Estate Not Owned

90,100

87,900

Land Banking Arrangement [Member] | Homebuilding [Member]

Note 4 - Reduction of Inventory to Fair Value (Details) [Line Items]

Inventory Real Estate Other Options

239,600

25,100

Liabilities from Inventory Real Estate Not Owned

$ 151,800

$ 16,800

[1]	Derived from the audited balance sheet as of October 31, 2015.

Note 5 - Variable Interest Entities (Details) $ in Millions	Jan. 31, 2016 USD ($)
Disclosure Text Block [Abstract]
Deposits Associated with Land and Lot Options of Unconsolidated Variable Interest Entities	$ 85.8
Purchase Price Associated with Land and Lot Options of Unconsolidated Variable Interest Entities	$ 1,500.0

Note 6 - Warranty Costs (Details) - USD ($) $ in Thousands	3 Months Ended
Note 6 - Warranty Costs (Details) - USD ($) $ in Thousands	Jan. 31, 2016	Jan. 31, 2015	Oct. 31, 2015
Product Warranties Disclosures [Abstract]
Cash Received from Subcontractors for Owner Controlled Insurance Program	$ 1,000	$ 600
General Liability Insurance, Deductible	20,000		$ 20,000
Bodily Injury Insurance, Deductible	250		250
Bodily Injury Insurance, Limit	5,000		5,000
Aggregate Retention for Construction Defects, Warranty and Bodily Injury Claims	21,000		$ 21,000
Payments by Insurance Companies for Claims	$ 3,200	$ 200

Note 6 - Warranty Costs (Details) - Warranty and General Liability Reserve - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Product Warranty Liability [Line Items]
Balance, beginning of period	$ 135,053	$ 178,008
Charges incurred during the period	(9,669)	(4,605)
Balance, end of period	133,389	181,833
Selling, General and Administrative Expenses [Member]
Product Warranty Liability [Line Items]
Additions	4,623	5,249
Cost of Sales [Member]
Product Warranty Liability [Line Items]
Additions	$ 3,382	$ 3,181

Note 8 - Restricted Cash and Deposits (Details) - USD ($)
$ in Thousands

Jan. 31, 2016

Oct. 31, 2015

Note 8 - Restricted Cash and Deposits (Details) [Line Items]

Cash Equivalents, at Carrying Value

$ 9,000

$ 15,800

Mortgage Warehouse Lines of Credit [Member]

26,900

26,500

Note 8 - Restricted Cash and Deposits (Details) [Line Items]

2,000

Note 8 - Restricted Cash and Deposits (Details) [Line Items]

Homebuilding [Member] | Customer Deposits [Member]

6,865

7,299

^[1]

Note 8 - Restricted Cash and Deposits (Details) [Line Items]

4,300

4,700

Note 8 - Restricted Cash and Deposits (Details) [Line Items]

Financial Services [Member] | Customer Deposits [Member]

20,072

19,223

^[1]

Note 8 - Restricted Cash and Deposits (Details) [Line Items]

Note 10 - Mortgages and Notes Payable (Details) [Line Items]

$ 18,100

$ 17,200

[1]	Derived from the audited balance sheet as of October 31, 2015.

Note 9 - Mortgage Loans Held for Sale (Details) $ in Millions	Jan. 31, 2016 USD ($)	Oct. 31, 2015 USD ($)	Jan. 31, 2015
Receivables [Abstract]
Loans Pledged as Collateral	$ 147.7	$ 114.0
Number of Loans Reserved For	131		131

Note 9 - Mortgage Loans Held for Sale (Details) - Loan Origination Reserves - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Loan Origination Reserves [Abstract]
Loan origination reserves, beginning of period	$ 8,025	$ 7,352
Provisions for losses during the period	41	61
Adjustments to pre-existing provisions for losses from changes in estimates	(38)	568
Loan origination reserves, end of period	$ 8,028	$ 7,981

Note 10 - Mortgages and Notes Payable (Details) - USD ($)
$ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Jun. 30, 2013

Jan. 31, 2016

Oct. 31, 2015

Long-term Line of Credit

$ 47,000

^[1]

Letter of Credit [Member]

Note 10 - Mortgages and Notes Payable (Details) [Line Items]

Letters of Credit Outstanding, Amount

$ 2,500

2,600

Citi Bank [Member] | Revolving Credit Facility [Member]

Note 10 - Mortgages and Notes Payable (Details) [Line Items]

Debt Instrument, Term

5 years

Line of Credit Facility, Maximum Borrowing Capacity

$ 75,000

Debt Instrument Basis Spread On Variable Rate Number of Business Days Prior to First Day of Interest Period Spread Determined

2 days

Long-term Line of Credit

$ 47,000

47,000

Letters of Credit Outstanding, Amount

25,500

25,900

JP Morgan Chase Bank [Member]

Note 10 - Mortgages and Notes Payable (Details) [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

50,000

JP Morgan Chase Bank [Member] | London Interbank Offered Rate (LIBOR) [Member]

$ 42,200

30,500

Note 10 - Mortgages and Notes Payable (Details) [Line Items]

Debt Instrument Variable Rate Basis Adjusted London Interbank Offered Rate LIBOR

0.425%

Customer's Bank [Member]

Note 10 - Mortgages and Notes Payable (Details) [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

$ 25,000

Nonrecourse Mortgages [Member] | Mortgages [Member] | Corporate, Non-Segment [Member]

33,100

29,700

Note 10 - Mortgages and Notes Payable (Details) [Line Items]

Secured Debt

$ 15,200

$ 15,500

Debt, Weighted Average Interest Rate

8.80%

Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months

$ 900

Long-term Debt, Maturities, Repayments of Principal in Year Two

1,300

Long-term Debt, Maturities, Repayments of Principal in Year Three

1,400

Long-term Debt, Maturities, Repayments of Principal in Year Four

1,500

Long-term Debt, Maturities, Repayments of Principal in Year Five

1,700

Long-term Debt, Maturities, Repayments of Principal after Year Five

8,400

Nonrecourse Mortgages [Member] | Mortgages [Member] | Homebuilding [Member]

Note 10 - Mortgages and Notes Payable (Details) [Line Items]

Secured Debt

128,668

$ 143,863

^[1]

Debt Instrument, Collateral Amount

$ 328,200

$ 388,100

Debt, Weighted Average Interest Rate

4.90%

5.10%

8.0% Senior Notes Due 2019 [Member] | Senior Secured Notes [Member]

Note 10 - Mortgages and Notes Payable (Details) [Line Items]

The 7.25% 2020 Notes and 9.125% 2020 Notes [Member] | Senior Secured Notes [Member]

8.00%

Note 10 - Mortgages and Notes Payable (Details) [Line Items]

Debt Instrument, Collateral Amount

$ 628,400

Cash Collateral for Borrowed Securities

112,600

The 7.25% 2020 Notes and 9.125% 2020 Notes [Member] | Senior Secured Notes [Member] | Restricted Cash [Member] | Letter of Credit [Member]

Note 10 - Mortgages and Notes Payable (Details) [Line Items]

Cash Collateral for Borrowed Securities

2,500

$ 2,600

Credit Suisse Master Repurchase Agreement [Member]

Note 10 - Mortgages and Notes Payable (Details) [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

50,000

Debt Instrument Variable Rate Basis Effective Rate

$ 36,700

30,100

0.76%

Comerica Master Repurchase Agreement [Member]

Note 10 - Mortgages and Notes Payable (Details) [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

$ 35,000

Comerica Master Repurchase Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member]

$ 28,400

$ 18,600

Note 10 - Mortgages and Notes Payable (Details) [Line Items]

Debt Instrument Variable Rate Basis Floor Rate

2.50%

0.25%

Minimum [Member] | JP Morgan Chase Bank [Member] | London Interbank Offered Rate (LIBOR) [Member]

Note 10 - Mortgages and Notes Payable (Details) [Line Items]

Minimum [Member] | Customer's Bank [Member] | London Interbank Offered Rate (LIBOR) [Member]

2.50%

Note 10 - Mortgages and Notes Payable (Details) [Line Items]

Minimum [Member] | Credit Suisse Master Repurchase Agreement [Member]

2.50%

Note 10 - Mortgages and Notes Payable (Details) [Line Items]

Maximum [Member] | JP Morgan Chase Bank [Member] | London Interbank Offered Rate (LIBOR) [Member]

2.25%

Note 10 - Mortgages and Notes Payable (Details) [Line Items]

Maximum [Member] | Customer's Bank [Member] | London Interbank Offered Rate (LIBOR) [Member]

2.63%

Note 10 - Mortgages and Notes Payable (Details) [Line Items]

Maximum [Member] | Credit Suisse Master Repurchase Agreement [Member]

5.25%

Note 10 - Mortgages and Notes Payable (Details) [Line Items]

Note 14 - Preferred Stock (Details) [Line Items]

2.50%

[1]	Derived from the audited balance sheet as of October 31, 2015.

Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) - USD ($) $ in Thousands			3 Months Ended		9 Months Ended	12 Months Ended
	Jan. 15, 2016	Nov. 05, 2014	Jan. 31, 2016	Jan. 31, 2015	Jul. 31, 2015	Oct. 31, 2015
Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) [Line Items]
Debt Covenant Fixed Charge Coverage Ratio Minimum			2.0
Repayments of Senior Debt (in Dollars)			$ 175,040	$ 2,062
Series A Preferred Stock [Member]
Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) [Line Items]
Preferred Stock, Dividend Rate, Percentage			7.625%
Senior Secured Notes [Member]
Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) [Line Items]
Long-term Debt, Gross (in Dollars)			$ 981,716			$ 981,346
Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]
Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) [Line Items]
Long-term Debt, Gross (in Dollars)			$ 607,575			$ 780,319
The 5.0% 2021 Notes [Member] \| Senior Secured Notes [Member]
Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			5.00%			5.00%
Debt Instrument, Maturity Date			Nov. 01, 2021			Nov. 01, 2021
Long-term Debt, Gross (in Dollars)			$ 131,575			$ 131,207
The 2.0% 2021 Notes [Member] \| Senior Secured Notes [Member]
Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			2.00%			2.00%
Debt Instrument, Maturity Date			Nov. 01, 2021			Nov. 01, 2021
Long-term Debt, Gross (in Dollars)			$ 53,141			$ 53,139
The 7.25% 2020 Notes [Member] \| Senior Secured Notes [Member]
Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			7.25%			7.25%
Debt Instrument, Maturity Date			Oct. 15, 2020			Oct. 15, 2020
Long-term Debt, Gross (in Dollars)			$ 577,000			$ 577,000
The 9.125% 2020 Notes [Member] \| Senior Secured Notes [Member]
Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			9.125%			9.125%
Debt Instrument, Maturity Date			Nov. 15, 2020			Nov. 15, 2020
Long-term Debt, Gross (in Dollars)			$ 220,000			$ 220,000
The 7.25% 2020 Notes and 9.125% 2020 Notes [Member] \| Senior Secured Notes [Member]
Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) [Line Items]
Debt Instrument, Collateral Amount (in Dollars)			628,400
Cash Collateral for Borrowed Securities (in Dollars)			112,600
The 7.25% 2020 Notes and 9.125% 2020 Notes [Member] \| Senior Secured Notes [Member] \| Restricted Cash [Member] \| Letter of Credit [Member]
Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) [Line Items]
Cash Collateral for Borrowed Securities (in Dollars)			2,500			$ 2,600
The 2.0% 2021 Notes Member and 5.0% 2021 Notes [Member] \| Senior Secured Notes [Member] \| Cash and Cash Equivalents Collateral [Member]
Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) [Line Items]
Debt Instrument, Collateral Amount (in Dollars)			37,000
The 2.0% 2021 Notes Member and 5.0% 2021 Notes [Member] \| Senior Secured Notes [Member] \| Real Estate [Member]
Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) [Line Items]
Debt Instrument, Collateral Amount (in Dollars)			167,300
The 2.0% 2021 Notes Member and 5.0% 2021 Notes [Member] \| Senior Secured Notes [Member] \| Secured Group [Member]
Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) [Line Items]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures (in Dollars)			$ 64,700
8.0% Senior Notes Due 2019 [Member] \| Senior Secured Notes [Member]
Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			8.00%
8.0% Senior Notes Due 2019 [Member] \| Senior Notes [Member]
Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		8.00%	8.00%
Debt Instrument, Face Amount (in Dollars)		$ 250,000
Proceeds from Issuance of Long-term Debt (in Dollars)		$ 245,700
8.0% Senior Notes Due 2019 [Member] \| Senior Notes [Member] \| Debt Instrument, Redemption, Period One [Member]
Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) [Line Items]
Debt Instrument, Redemption Price, Percentage		100.00%
8.0% Senior Notes Due 2019 [Member] \| Senior Notes [Member] \| Debt Instrument, Redemption, Period Two [Member]
Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) [Line Items]
Debt Instrument, Redemption Price, Percentage		100.00%
8.0% Senior Notes Due 2019 [Member] \| Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]
Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			8.00%			8.00%
Debt Instrument, Maturity Date			Nov. 01, 2019			Nov. 01, 2019
Long-term Debt, Gross (in Dollars)			$ 250,000			$ 250,000
The 6.25% 2016 Notes [Member] \| Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]
Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.25%		6.25%			6.25%
Debt Instrument, Maturity Date			Jan. 15, 2016		Jan. 15, 2016	Jan. 15, 2016
Repayments of Senior Debt (in Dollars)	$ 172,700
Long-term Debt, Gross (in Dollars)						$ 172,744
The 7.5% 2016 Notes [Member] \| Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]
Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			7.50%			7.50%
Debt Instrument, Maturity Date			May 15, 2016			May 15, 2016
Long-term Debt, Gross (in Dollars)			$ 86,532			$ 86,532
The 8.625% 2017 Notes [Member] \| Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]
Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			8.625%			8.625%
Debt Instrument, Maturity Date			Jan. 15, 2017			Jan. 15, 2017
Long-term Debt, Gross (in Dollars)			$ 121,043			$ 121,043

Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) - Senior Secured, Senior and Senior Subordinated Notes - USD ($) $ in Thousands	Jan. 31, 2016	Oct. 31, 2015
Senior Secured Notes [Member]
Senior Secured Notes:
Senior Notes	$ 981,716	$ 981,346
Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]
Senior Secured Notes:
Senior Notes	607,575	780,319
The 7.25% 2020 Notes [Member] \| Senior Secured Notes [Member]
Senior Secured Notes:
Senior Notes	577,000	577,000
The 9.125% 2020 Notes [Member] \| Senior Secured Notes [Member]
Senior Secured Notes:
Senior Notes	220,000	220,000
The 2.0% 2021 Notes [Member] \| Senior Secured Notes [Member]
Senior Secured Notes:
Senior Notes	53,141	53,139
The 5.0% 2021 Notes [Member] \| Senior Secured Notes [Member]
Senior Secured Notes:
Senior Notes	131,575	131,207
The 6.25% 2016 Notes [Member] \| Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]
Senior Secured Notes:
Senior Notes		172,744
The 7.5% 2016 Notes [Member] \| Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]
Senior Secured Notes:
Senior Notes	86,532	86,532
The 8.625% 2017 Notes [Member] \| Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]
Senior Secured Notes:
Senior Notes	121,043	121,043
The 7.0% 2019 Notes [Member] \| Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]
Senior Secured Notes:
Senior Notes	150,000	150,000
8.0% Senior Notes Due 2019 [Member] \| Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]
Senior Secured Notes:
Senior Notes	250,000	250,000
The 11.0% 2017 Amortizing Note [Member] \| Senior Amortizing Notes [Member]
Senior Secured Notes:
Senior Notes	10,516	12,811
Senior Exchangeable Notes Due 2017 [Member] \| Senior Amortizing Notes [Member]
Senior Secured Notes:
Senior Notes	$ 74,720	$ 73,771

Note 11 - Senior Secured, Senior, Senior Amortizing, and Senior Exchangeable Notes (Details) - Senior Secured, Senior and Senior Subordinated Notes (Parentheticals)	3 Months Ended	9 Months Ended	12 Months Ended
	Jan. 31, 2016	Jul. 31, 2015	Oct. 31, 2015	Jan. 15, 2016	Oct. 02, 2012
Senior Amortizing Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Stated Interest Rate	11.00%
The 7.25% 2020 Notes [Member] \| Senior Secured Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Stated Interest Rate	7.25%		7.25%
Debt Instrument, Maturity Date	Oct. 15, 2020		Oct. 15, 2020
The 9.125% 2020 Notes [Member] \| Senior Secured Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Stated Interest Rate	9.125%		9.125%
Debt Instrument, Maturity Date	Nov. 15, 2020		Nov. 15, 2020
The 2.0% 2021 Notes [Member] \| Senior Secured Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Stated Interest Rate	2.00%		2.00%
Debt Instrument, Maturity Date	Nov. 01, 2021		Nov. 01, 2021
The 5.0% 2021 Notes [Member] \| Senior Secured Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Stated Interest Rate	5.00%		5.00%
Debt Instrument, Maturity Date	Nov. 01, 2021		Nov. 01, 2021
The 6.25% 2016 Notes [Member] \| Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Stated Interest Rate	6.25%		6.25%	6.25%
Debt Instrument, Maturity Date	Jan. 15, 2016	Jan. 15, 2016	Jan. 15, 2016
The 7.5% 2016 Notes [Member] \| Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Stated Interest Rate	7.50%		7.50%
Debt Instrument, Maturity Date	May 15, 2016		May 15, 2016
The 8.625% 2017 Notes [Member] \| Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Stated Interest Rate	8.625%		8.625%
Debt Instrument, Maturity Date	Jan. 15, 2017		Jan. 15, 2017
The 7.0% 2019 Notes [Member] \| Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Stated Interest Rate	7.00%		7.00%
Debt Instrument, Maturity Date	Jan. 15, 2019		Jan. 15, 2019
8.0% Senior Notes Due 2019 [Member] \| Senior Secured Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Stated Interest Rate	8.00%
8.0% Senior Notes Due 2019 [Member] \| Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Stated Interest Rate	8.00%		8.00%
Debt Instrument, Maturity Date	Nov. 01, 2019		Nov. 01, 2019
The 11.0% 2017 Amortizing Note [Member] \| Senior Amortizing Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Stated Interest Rate	11.00%		11.00%		11.00%
Debt Instrument, Maturity Date	Dec. 01, 2017		Dec. 01, 2017
Senior Exchangeable Notes Due 2017 [Member] \| Senior Amortizing Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date	Dec. 01, 2017		Dec. 01, 2017

Note 12 - Senior Exchangeable Notes (Details)		3 Months Ended
Note 12 - Senior Exchangeable Notes (Details)	Jun. 02, 2013 USD ($)	Jan. 31, 2016 USD ($) shares	Oct. 31, 2015	Oct. 02, 2012 USD ($) $ / item shares
Senior Amortizing Notes [Member]
Note 12 - Senior Exchangeable Notes (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		11.00%
Debt Instrument, Periodic Payment, Interest \| $	$ 39.83	$ 30.00
The 6.00% Exchangeable Note Units [Member] \| Exchangeable Note Units [Member]
Note 12 - Senior Exchangeable Notes (Details) [Line Items]
Debt Instrument, Face Amount \| $				$ 100,000,000
Debt Instrument, Interest Rate, Stated Percentage				6.00%
Note Units Number				100,000
Note Units Stated Amount				1,000
Note Units Initial Principal Amount Exchangeable Note				768.51
Note Units Principal Amount At Maturity				1,000
Note Units Initial Principal Amount Senior Amortizing Note				231.49
Debt Instrument, Interest Rate, Effective Percentage				5.17%
Shares Issued Upon Conversion of Convertible Debt \| shares				185.5288
Share Price for Exchangeable Note Conversion				5.39
Senior Exchangeable Notes Exchanged for Class A Common Stock \| shares		18,305
Debt Conversion, Converted Instrument, Shares Issued \| shares		3,400,000
The 11.0% 2017 Amortizing Note [Member] \| Senior Amortizing Notes [Member]
Note 12 - Senior Exchangeable Notes (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		11.00%	11.00%	11.00%

Note 13 - Per Share Calculations (Details) - shares shares in Millions	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Note 13 - Per Share Calculations (Details) [Line Items]
Exchangeable Note Unit Rate Stated Percentage	6.00%
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0.0
Non-Vested Stock and Outstanding Options [Member]
Note 13 - Per Share Calculations (Details) [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		0.3
Convertible Debt Securities [Member]
Note 13 - Per Share Calculations (Details) [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	15.2	15.2
Out of the Money Stock Options [Member]
Note 13 - Per Share Calculations (Details) [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	6.4	3.3

Note 14 - Preferred Stock (Details) - USD ($)

3 Months Ended

Jul. 12, 2005

Jan. 31, 2016

Jan. 31, 2015

Oct. 31, 2015

^[1]

Preferred Stock, Shares Issued (in Shares)

5,600

Preferred Class A [Member]

Note 14 - Preferred Stock (Details) [Line Items]

Preferred Stock, Shares Issued (in Shares)

5,600

Preferred Stock, Dividend Rate, Percentage

7.625%

Preferred Stock, Liquidation Preference Per Share (in Dollars per share)

$ 25,000

Payments of Dividends

$ 0

[1]	Derived from the audited balance sheet as of October 31, 2015.

Note 15 - Common Stock (Details) $ in Millions	3 Months Ended
Note 15 - Common Stock (Details) $ in Millions	Jan. 31, 2016 USD ($) shares	Dec. 05, 2008	Aug. 15, 2008	Aug. 04, 2008	Jul. 03, 2001 shares
Note 15 - Common Stock (Details) [Line Items]
Common Stock Dividends, Percent of Increase from Class A to Class B	110.00%
Shareholder Ownership, Percentage of Increase				0.50%
Common Class A [Member]
Note 15 - Common Stock (Details) [Line Items]
Common Stock Voting Rights Votes Per Share Number	1
Shareholder Ownership Percentage			4.90%
Number of Rights			1
Shareholder, Percent of Stock Acquired			4.90%
Shareholders, Pre-existing Ownership Percentage		5.00%
Shareholders, Current Ownership Percentage		5.00%
Shareholders Ownership Percentage on Transfers		5.00%
Shareholders, Ownership Percentage Threshold		5.00%
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in Shares)					4,000,000
Stock Repurchased During Period, Shares (in Shares)	0
Stock Repurchase Program, Remaining Authorized Repurchase Amount (in Dollars) \| $	$ 0.5
Common Class B [Member]
Note 15 - Common Stock (Details) [Line Items]
Common Stock Voting Rights Votes Per Share Number	10
Minimum [Member]
Note 15 - Common Stock (Details) [Line Items]
Shareholder Ownership Percentage				5.00%

Note 16 - Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
Note 16 - Income Taxes (Details) - USD ($) $ in Thousands	Jan. 31, 2016	Jan. 31, 2015	Oct. 31, 2015
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit)	$ 2,979	$ (5,304)	$ (5,304)
Deferred Tax Assets, Valuation Allowance	$ 635,300

Note 17 - Operating and Reporting Segments (Details)
$ in Thousands

3 Months Ended

Jan. 31, 2016

USD ($)

Oct. 31, 2015

USD ($)

Note 17 - Operating and Reporting Segments (Details) [Line Items]

Deferred Tax Assets, Net of Valuation Allowance

$ 287,388

$ 290,279

^[1]

Note 17 - Operating and Reporting Segments (Details) [Line Items]

Number of Reportable Segments

Corporate and Other [Member]

Note 17 - Operating and Reporting Segments (Details) [Line Items]

Deferred Tax Assets, Net of Valuation Allowance

$ 287,400

$ 290,300

[1]	Derived from the audited balance sheet as of October 31, 2015.

Note 17 - Operating and Reporting Segments (Details) - Financial Information Relating to Segment Operations - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Oct. 31, 2015
Revenues:
Total revenues	$ 575,605	$ 445,714	$ 445,714
(Loss) income before income taxes:
(Loss) income before income taxes	(13,194)	(19,680)	$ (19,680)
Homebuilding [Member]
Revenues:
Total revenues	557,399	434,628
(Loss) income before income taxes:
(Loss) income before income taxes	8,364	13,531
Homebuilding [Member] \| Northeast [Member]
Revenues:
Total revenues	72,504	50,730
(Loss) income before income taxes:
(Loss) income before income taxes	2,734	(3,153)
Homebuilding [Member] \| Mid-Atlantic [Member]
Revenues:
Total revenues	93,820	81,185
(Loss) income before income taxes:
(Loss) income before income taxes	2,622	5,177
Homebuilding [Member] \| Midwest [Member]
Revenues:
Total revenues	91,920	64,439
(Loss) income before income taxes:
(Loss) income before income taxes	(5,559)	3,711
Homebuilding [Member] \| Southeast [Member]
Revenues:
Total revenues	39,252	37,894
(Loss) income before income taxes:
(Loss) income before income taxes	(1,834)	(1,156)
Homebuilding [Member] \| Southwest [Member]
Revenues:
Total revenues	204,325	167,187
(Loss) income before income taxes:
(Loss) income before income taxes	16,369	11,325
Homebuilding [Member] \| West [Member]
Revenues:
Total revenues	55,578	33,193
(Loss) income before income taxes:
(Loss) income before income taxes	(5,968)	(2,373)
Financial Services [Member]
Revenues:
Total revenues	18,226	11,122
(Loss) income before income taxes:
(Loss) income before income taxes	10,011	3,805
Corporate and Other [Member]
Revenues:
Total revenues	(20)	(36)
(Loss) income before income taxes:
(Loss) income before income taxes	$ (31,569)	$ (37,016)

Note 17 - Operating and Reporting Segments (Details) - Financial Information Relating to Segment Financial Position - USD ($)
$ in Thousands

Jan. 31, 2016

Oct. 31, 2015

Assets:

$ 2,552,740

$ 2,602,298

^[1]

Assets:

Homebuilding [Member] | Northeast [Member]

2,071,894

2,152,038

^[1]

Assets:

Homebuilding [Member] | Mid-Atlantic [Member]

288,384

321,983

Assets:

Homebuilding [Member] | Midwest [Member]

345,217

342,159

Assets:

Homebuilding [Member] | Southeast [Member]

176,399

197,899

Assets:

Homebuilding [Member] | Southwest [Member]

255,971

223,206

Assets:

Homebuilding [Member] | West [Member]

469,940

465,740

Assets:

286,351

259,943

Assets:

Corporate and Other [Member]

193,458

159,981

^[1]

Assets:

Excluding Corporate And Unallocated [Member] | Homebuilding [Member]

^[2]

537,020

631,387

Assets:

Note 18 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures (Details) [Line Items]

$ 1,822,262

$ 1,810,930

[1]	Derived from the audited balance sheet as of October 31, 2015.
[2]	Includes $287.4 million and $290.3 million of income taxes receivable - including deferred tax assets as of January 31, 2016 and October 31, 2015, respectively.

Note 18 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures (Details) - USD ($)
$ in Thousands

1 Months Ended

3 Months Ended

Nov. 30, 2015

Jan. 31, 2016

Jan. 31, 2015

Oct. 31, 2015

Joint Venture Financing, Percent of Assets

50.00%

Joint Venture, Average Debt to Capitalization Ratio

30.00%

Land Development Venture [Member]

Note 18 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures (Details) [Line Items]

Proceeds From Contribution Of Land To Joint Venture

$ 25,700

Note 18 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures (Details) [Line Items]

Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures

$ 69,094

$ 61,209

^[1]

Management Fees Revenue

800

$ 1,200

Corporate Joint Venture [Member] | Homebuilding [Member]

Note 18 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures (Details) [Line Items]

Advances to Affiliate

$ 1,300

$ 800

Joint Venture, Average Debt to Capitalization Ratio

30.00%

35.00%

[1]	Derived from the audited balance sheet as of October 31, 2015.

Note 18 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures (Details) - Unconsolidated Homebuilding and Land Development Joint Ventures - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Oct. 31, 2015
Equity of:
Debt to capitalization ratio	30.00%
Our share of net income	$ (1,480)	$ 1,452	$ 1,452
Corporate Joint Venture [Member] \| Homebuilding [Member]
Assets:
Cash and cash equivalents	34,537		29,611
Inventories	382,385		326,581
Other assets	16,919		11,225
Total assets	433,841		367,417
Liabilities and equity:
Accounts payable and accrued liabilities	34,635		30,663
Notes payable	118,664		116,328
Total liabilities	153,299		146,991
Equity of:
Hovnanian Enterprises, Inc.	67,789		60,458
Others	212,753		159,968
Total equity	280,542		220,426
Total liabilities and equity	$ 433,841		$ 367,417
Debt to capitalization ratio	30.00%		35.00%
Revenues	$ 21,362	29,177
Cost of sales and expenses	(25,402)	(27,602)
Joint venture net income	(4,040)	1,575
Our share of net income	(1,560)	1,490
Homebuilding Venture [Member] \| Corporate Joint Venture [Member] \| Homebuilding [Member]
Assets:
Cash and cash equivalents	33,037		$ 27,856
Inventories	371,231		314,814
Other assets	16,919		11,225
Total assets	421,187		353,895
Liabilities and equity:
Accounts payable and accrued liabilities	34,075		29,994
Notes payable	115,345		112,554
Total liabilities	149,420		142,548
Equity of:
Hovnanian Enterprises, Inc.	64,731		57,336
Others	207,036		154,011
Total equity	271,767		211,347
Total liabilities and equity	$ 421,187		$ 353,895
Debt to capitalization ratio	30.00%		35.00%
Revenues	$ 20,266	28,045
Cost of sales and expenses	(24,179)	(26,517)
Joint venture net income	(3,913)	1,528
Our share of net income	(1,496)	1,467
Land Development Venture [Member] \| Corporate Joint Venture [Member] \| Homebuilding [Member]
Assets:
Cash and cash equivalents	1,500		$ 1,755
Inventories	11,154		11,767
Total assets	12,654		13,522
Liabilities and equity:
Accounts payable and accrued liabilities	560		669
Notes payable	3,319		3,774
Total liabilities	3,879		4,443
Equity of:
Hovnanian Enterprises, Inc.	3,058		3,122
Others	5,717		5,957
Total equity	8,775		9,079
Total liabilities and equity	$ 12,654		$ 13,522
Debt to capitalization ratio	27.00%		29.00%
Revenues	$ 1,096	1,132
Cost of sales and expenses	(1,223)	(1,085)
Joint venture net income	(127)	47
Our share of net income	$ (64)	$ 23

Note 20 - Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Oct. 31, 2015
Note 20 - Fair Value of Financial Instruments (Details) [Line Items]
Loans Held for Sale, Mortgages, Unpaid Principal	$ 153.1		$ 122.7
Other Commitment	26.5
Impairment of Real Estate	9.7	$ 0.9
Loan Origination Commitments [Member]
Note 20 - Fair Value of Financial Instruments (Details) [Line Items]
Loan Applications in Process	763.9
Interest Rate Committed Loan Applications [Member]
Note 20 - Fair Value of Financial Instruments (Details) [Line Items]
Interest Rate Committed Loan Applications	68.7
Fair Value, Inputs, Level 2 [Member] \| Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]
Note 20 - Fair Value of Financial Instruments (Details) [Line Items]
Notes Payable, Fair Value Disclosure	445.5		689.6
Fair Value, Inputs, Level 3 [Member] \| Senior Secured Notes [Member]
Note 20 - Fair Value of Financial Instruments (Details) [Line Items]
Notes Payable, Fair Value Disclosure	705.4		869.4
Fair Value, Inputs, Level 3 [Member] \| Senior Amortizing Notes [Member]
Note 20 - Fair Value of Financial Instruments (Details) [Line Items]
Notes Payable, Fair Value Disclosure	10.5		12.8
Fair Value, Inputs, Level 3 [Member] \| Senior Exchangeable Notes [Member]
Note 20 - Fair Value of Financial Instruments (Details) [Line Items]
Notes Payable, Fair Value Disclosure	$ 65.1		$ 69.0
Maximum [Member] \| Loan Origination Commitments [Member]
Note 20 - Fair Value of Financial Instruments (Details) [Line Items]
Number of Days in Commitment	60 days

Note 20 - Fair Value of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis - USD ($)
$ in Thousands

Jan. 31, 2016

Oct. 31, 2015

Note 20 - Fair Value of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]

Total

$ 164,961

$ 130,320

Fair Value, Inputs, Level 2 [Member] | Interest Rate Lock Commitments [Member] | Fair Value, Measurements, Recurring [Member]

Note 20 - Fair Value of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]

Derivative Fair Value

401

(7)

Fair Value, Inputs, Level 2 [Member] | Forward Contracts [Member] | Fair Value, Measurements, Recurring [Member]

Note 20 - Fair Value of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]

Derivative Fair Value

(634)

509

Fair Value, Inputs, Level 2 [Member] | Portion at Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member]

Note 20 - Fair Value of Financial Instruments (Details) - Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items]

Mortgage loans held for sale (1)

^[1]

$ 165,194

$ 129,818

[1]	The aggregate unpaid principal balance was $153.1 million and $122.7 million at January 31, 2016 and October 31, 2015, respectively.

Note 20 - Fair Value of Financial Instruments (Details) - Changes in Fair Values Included in Income (Loss) - Financial Services Revenue Line Item [Member] - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Loans Held For Sale [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Changes in fair value included in net loss all reflected in financial services revenues	$ 5,007	$ 60
Interest Rate Lock Commitments [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Changes in fair value included in net loss all reflected in financial services revenues	407	266
Forward Contracts [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Changes in fair value included in net loss all reflected in financial services revenues	$ (1,143)	$ (382)

Note 20 - Fair Value of Financial Instruments (Details) - Assets Measured at Fair Value on a Nonrecurring Basis - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Note 20 - Fair Value of Financial Instruments (Details) - Assets Measured at Fair Value on a Nonrecurring Basis [Line Items]
Pre-Impairment Amount	$ 28,700	$ 5,700
Total Losses	(9,700)	(900)
Fair Value, Inputs, Level 3 [Member] \| Sold and Unsold Homes and Lots Under Development [Member] \| Fair Value, Measurements, Nonrecurring [Member]
Note 20 - Fair Value of Financial Instruments (Details) - Assets Measured at Fair Value on a Nonrecurring Basis [Line Items]
Pre-Impairment Amount	28,528	5,701
Total Losses	(9,669)	(923)
Fair Value	18,859	4,778
Fair Value, Inputs, Level 3 [Member] \| Land and Land Options Held for Future Development or Sale [Member] \| Fair Value, Measurements, Nonrecurring [Member]
Note 20 - Fair Value of Financial Instruments (Details) - Assets Measured at Fair Value on a Nonrecurring Basis [Line Items]
Pre-Impairment Amount	157	0
Total Losses	(48)	0
Fair Value	$ 109	$ 0

Note 21 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors (Details) - USD ($)
$ in Thousands

Jan. 31, 2016

Oct. 31, 2015

Nov. 05, 2014

Note 21 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors (Details) [Line Items]

Number of Wholly Owned Subsidiaries

Exchangeable Note Unit Rate Stated Percentage

6.00%

Direct or Indirect Ownership in Guarantor Subsidiaries Percentage

100.00%

Senior Amortizing Notes [Member]

Note 21 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors (Details) [Line Items]

$ 10,516

$ 12,811

^[1]

Senior Amortizing Notes [Member] | Subsidiary Issuer [Member]

11.00%

Note 21 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors (Details) [Line Items]

Senior Secured Notes [Member]

$ 10,500

Note 21 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors (Details) [Line Items]

Senior Secured Notes [Member] | Subsidiary Issuer [Member]

981,716

981,346

^[1]

Note 21 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors (Details) [Line Items]

992,000

Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]

981,700

Note 21 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors (Details) [Line Items]

Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member] | Subsidiary Issuer [Member]

607,575

780,319

^[1]

Note 21 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors (Details) [Line Items]

Senior Exchangeable Notes [Member]

607,600

Note 21 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors (Details) [Line Items]

Senior Exchangeable Notes [Member] | Subsidiary Issuer [Member]

74,720

$ 73,771

^[1]

Note 21 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors (Details) [Line Items]

The 7.0% 2019 Notes [Member] | Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]

$ 74,700

Note 21 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors (Details) [Line Items]

The 7.0% 2019 Notes [Member] | Senior Notes [Member]

7.00%

Note 21 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors (Details) [Line Items]

8.0% Senior Notes Due 2019 [Member] | Senior Secured Notes [Member]

7.00%

Note 21 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors (Details) [Line Items]

8.0% Senior Notes Due 2019 [Member] | Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]

8.00%

Note 21 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors (Details) [Line Items]

8.0% Senior Notes Due 2019 [Member] | Senior Notes [Member]

8.00%

Note 21 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors (Details) [Line Items]

$ 250,000

8.00%

[1]	Derived from the audited balance sheet as of October 31, 2015.

Note 21 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors (Details) - Consolidating Condensed Financial Statements - Balance Sheets - USD ($)
$ in Thousands

Jan. 31, 2016

Oct. 31, 2015

ASSETS:

$ 2,552,740

$ 2,602,298

^[1]

2,695,880

2,730,382

^[1]

1,750,699

1,935,635

^[1]

(143,140)

(128,084)

^[1]

2,552,740

2,602,298

^[1]

ASSETS:

287,388

290,279

ASSETS:

2,071,894

2,152,038

^[1]

Investments in and amounts due from consolidated subsidiaries

777,130

657,964

^[1]

ASSETS:

69,094

61,209

^[1]

ASSETS:

193,458

159,981

^[1]

Reportable Legal Entities [Member] | Parent Company [Member]

168,051

136,783

^[1]

ASSETS:

140,493

128,176

Amounts due to consolidated subsidiaries

Intercompany payable

179,839

180,681

101,286

72,503

(143,140)

(128,084)

140,493

128,176

ASSETS:

Reportable Legal Entities [Member] | Parent Company [Member] | Homebuilding [Member]

140,493

128,176

Reportable Legal Entities [Member] | Subsidiary Issuer [Member]

2,508

3,076

ASSETS:

1,536,838

1,717,871

Amounts due to consolidated subsidiaries

1,747,427

1,933,119

12,497

(223,198)

(215,335)

1,536,838

1,717,871

ASSETS:

Investments in and amounts due from consolidated subsidiaries

(82,294)

(89,212)

Intercompany receivable

1,471,938

1,575,712

1,013

Reportable Legal Entities [Member] | Subsidiary Issuer [Member] | Homebuilding [Member]

ASSETS:

147,194

230,358

Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]

112

ASSETS:

2,147,764

2,203,816

2,833

2,132

Intercompany payable

1,352,367

1,453,311

109,412

143,842

2,147,764

2,203,816

ASSETS:

Investments in and amounts due from consolidated subsidiaries

229,167

251,293

398,585

383,032

Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Homebuilding [Member]

ASSETS:

1,503,913

1,553,811

Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Financial Services [Member]

667,519

588,854

ASSETS:

16,099

15,680

Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]

15,633

15,677

ASSETS:

658,436

570,472

439

384

398,588

383,035

658,436

570,472

ASSETS:

Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Homebuilding [Member]

Intercompany receivable

60,268

58,280

ASSETS:

420,787

367,869

Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Financial Services [Member]

106,991

65,947

ASSETS:

177,359

144,301

Consolidation, Eliminations [Member]

152,418

121,106

ASSETS:

(1,930,791)

(2,018,037)

Amounts due to consolidated subsidiaries

Intercompany payable

(1,532,206)

(1,633,992)

(113,783)

(72,503)

(284,802)

(311,542)