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

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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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(Print or Type Responses)

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. Date of Earliest Transaction (Month/Day/Year) 01/01/2007 (Street) RED BANK, NJ 07701 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (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 Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price

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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 Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock Units Payout 2007 Class B	(1)	01/01/2007		D			108,102 (2)	(3)	(3)	Class A Common Stock (4)	108,102	(5)	0	D
Phantom Stock Units Payout 2010 Class B	(1)	01/01/2007		A		108,102		(6)	(6)	Class A Common Stock (4)	108,102	(5)	108,102	D
Phantom Stock Units Payout 2008 Class B	(1)	01/01/2007		D			108,717	(7)	(7)	Class A Common Stock (4)	108,717	(5)	0	D
Phantom Stock Units Payout 2013 Class B	(1)	01/01/2007		A		108,717		(8)	(8)	Class A Common Stock (4)	108,717	(5)	108,717	D

Reporting Owners

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

Signatures

Nancy A. Marrazzo, Attorney-in-Fact		01/04/2007
**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)	1-for-1
(2)	On March 19, 2004, the common stock of Hovnanian Enterprises, Inc. split 2-for-1, resulting in 54,051 additional Phantom Stock Units held by the reporting person.
(3)	Payout to be made on January 1, 2007 or upon the occurrence of certain other events set forth under the terms of Deferred Compensation Plan.
(4)	Upon the distribution of the Phantom Stock Units, shares of Class B Common Stock would be distributed. Shares of Class B Common Stock are immediately convertible into an equal number of shares of Class A Common Stock.
(5)	Not applicable
(6)	Payout to be made on January 1, 2010 or upon the occurrence of certain other events set forth under the terms of Deferred Compensation Plan.
(7)	Payout to be made on January 1, 2008 or upon the occurrence of certain other events set forth under the terms of Deferred Compensation Plan.
(8)	Payout to be made on January 1, 2013 or upon the occurrence of certain other events set forth under the terms of Deferred Compensation Plan.

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