Edgar Filing: HOVNANIAN ARA K

Ownership Submission

FORM 5

	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
	Form 3 Holdings Reported
	Form 4 Transactions Reported

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person ^*

HOVNANIAN ARA K

2. Issuer Name and Ticker or Trading Symbol
HOVNANIAN ENTERPRISES INC [HOV]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	__X__ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
President and CEO

(Last)

(First)

(Middle)

110 WEST FRONT STREET

3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
10/31/2006

(Street)

RED BANK,Â NJÂ 07701

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Reporting
(check applicable line)
_X_ Form Filed by One Reporting Person
___ Form Filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)	4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
				Amount	(A) or (D)	Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

SEC 2270 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Class B Common Stock

07/12/2006

6,600

Â ⁽¹⁾

Â ⁽²⁾

Class A Common Stock

6,600

⁽³⁾

506,498.62 ⁽⁴⁾

Held by trust for Lucy K. Kalian's family ⁽⁵⁾

Class B Common Stock

07/12/2006

5,500

Â ⁽¹⁾

Â ⁽²⁾

Class A Common Stock

5,500

⁽³⁾

422,082.67 ⁽⁴⁾

Held by trust for Esther K. Barry's family ⁽⁶⁾

Class B Common Stock

07/12/2006

4,400

Â ⁽¹⁾

Â ⁽²⁾

Class A Common Stock

4,400

⁽³⁾

1,081,110.71

Held by the Ara K. Hovnanian Family 1994 Long Term Trust ⁽⁷⁾

Class B Common Stock

07/12/2006

4,400

Â ⁽¹⁾

Â ⁽²⁾

Class A Common Stock

4,400

⁽³⁾

337,666.73 ⁽⁴⁾

Held by trust for Sossie K. Najarian's family ⁽⁸⁾

Class B Common Stock

07/12/2006

4,400

Â ⁽¹⁾

Â ⁽²⁾

Class A Common Stock

4,400

⁽³⁾

233,495.93 ⁽⁴⁾

Held by trust for Nadia K. Rodriguez's family ⁽⁹⁾

Class B Common Stock

Â ⁽¹⁾

Â ⁽²⁾

Class A Common Stock

1,688,720

Class B Common Stock

Â ⁽¹⁾

Â ⁽²⁾

Class A Common Stock

250,000

Held by the Ara K. Hovnanian 2004 GRAT ⁽¹⁰⁾

Class B Common Stock

Â ⁽¹⁾

Â ⁽²⁾

Class A Common Stock

128,132

Held by Reporting Person THROUGH PARTNERSHIP INTERESTS IN THE Limited Partnership

Class B Common Stock

Â ⁽¹⁾

Â ⁽²⁾

Class A Common Stock

20,300

Held by wife

Class B Common Stock

Â ⁽¹⁾

Â ⁽²⁾

Class A Common Stock

54,524

Held by son Alexander

Class B Common Stock

Â ⁽¹⁾

Â ⁽²⁾

Class A Common Stock

39,850

Held by daughter Serena

Class B Common Stock

Â ⁽¹⁾

Â ⁽²⁾

Class A Common Stock

199,262

199,262 ⁽⁴⁾

Held as trustee of the KSH 2004 GRAT in which Reporting Person has a potential remainder interest

Class B Common Stock

Â ⁽¹⁾

Â ⁽²⁾

Class A Common Stock

4,000

Held as trustee of the Alton Hovnanian Trust

Class B Common Stock

Â ⁽¹⁾

Â ⁽²⁾

Class A Common Stock

4,000

Held as trustee of the Alexander Hovnanian Trust

Class B Common Stock

Â ⁽¹⁾

Â ⁽²⁾

Class A Common Stock

33,579

Held as trustee for son Alexander

Class B Common Stock

Â ⁽¹⁾

Â ⁽²⁾

Class A Common Stock

33,579

Held as trustee for daughter Serena

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
HOVNANIAN ARA K 110 WEST FRONT STREET RED BANK,Â NJÂ 07701	Â X	Â X	Â President and CEO	Â

Signatures

Nancy A. Marrazzo, Attorney-in-Fact		12/15/2006
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The Class B Common Stock, par value $.01 per share, non-cumulative, is immediately convertible into an equal number of shares of Class A Common Stock, par value $.01 per share, non-cumulative
(2)	No expiration date
(3)	N/A
(4)	The Reporting Person disclaims beneficial ownership of these securities except to the extent of his potential pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose
(5)	Held by The Lucy K. Kalian Family 1994 Long-Term Trust, of which the reporting person is a trustee and has a potential remainder interest, including shares held through a partnership interest in the Kevork S. Hovnanian Family Limited Partnership (the "Limited Partnership")
(6)	Held by The Esther K. Barry Family 1994 Long-Term Trust, of which the reporting person is a trustee and has a potential remainder interest, including shares held through a partnership interest in the Limited Partnership
(7)	Held by The Ara K. Hovnanian Family 1994 Long-Term Trust, of which the reporting person is trustee, including shares held through a partnership interest in the Limited Partnership
(8)	Held by The Sossie K. Najarian Family 1994 Long-Term Trust, of which the reporting person is a trustee and has a potential remainder interest, including shares held through a partnership interest in the Limited Partnership
(9)	Held by The Nadia K. Rodriguez Family 1994 Long-Term Trust, of which the reporting person is a trustee and has a potential remainder interest, including shares held through a partnership interest in the Limited Partnership
(10)	Held by the Ara K. Hovnanian 2004 Grantor Retained Annuity Trust of which the reporting person is a trustee and the principal beneficiary

Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure.

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