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

3 Months Ended

Jan. 31, 2015

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments [Table Text Block]

(Dollars in thousands)	January 31, 2015
	Homebuilding		Land Development		Total
Assets:
Cash and cash equivalents	$27,733		$253		$27,986
Inventories	293,675		15,934		309,609
Other assets	8,059		-		8,059
Total assets	$329,467		$16,187		$345,654
Liabilities and equity:
Accounts payable and accrued liabilities	$21,539		$1,086		$22,625
Notes payable	83,196		5,466		88,662
Total liabilities	104,735		6,552		111,287
Equity of:
Hovnanian Enterprises, Inc.	69,200		3,013		72,213
Others	155,532		6,622		162,154
Total equity	224,732		9,635		234,367
Total liabilities and equity	$329,467		$16,187		$345,654
Debt to capitalization ratio	27	%	36	%	27	%

(Dollars in thousands)	October 31, 2014
	Homebuilding		Land Development		Total
Assets:
Cash and cash equivalents	$22,415		$205		$22,620
Inventories	208,620		16,194		224,814
Other assets	11,986		-		11,986
Total assets	$243,021		$16,399		$259,420
Liabilities and equity:
Accounts payable and accrued liabilities	$27,175		$1,039		$28,214
Notes payable	45,506		5,650		51,156
Total liabilities	72,681		6,689		79,370
Equity of:
Hovnanian Enterprises, Inc.	59,106		2,990		62,096
Others	111,234		6,720		117,954
Total equity	170,340		9,710		180,050
Total liabilities and equity	$243,021		$16,399		$259,420
Debt to capitalization ratio	21	%	37	%	22	%

	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

	For the Three Months Ended January 31, 2014
(In thousands)	Homebuilding		Land Development		Total
Revenues	$51,275		$1,914		$53,189
Cost of sales and expenses	(46,080	)	(1,619	)	(47,699	)
Joint venture net income	$5,195		$295		$5,490
Our share of net income	$2,548		$147		$2,695