Hovnanian Enterprises (HOV) 10-Q8 Mar 172017 Q1 Quarterly reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Jan. 31, 2017	Mar. 03, 2017
Document Information [Line Items]
Entity Registrant Name	HOVNANIAN ENTERPRISES INC
Entity Central Index Key	357,294
Trading Symbol	hov
Current Fiscal Year End Date	--10-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Type	10-Q
Document Period End Date	Jan. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		132,110,001
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		15,251,061

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jan. 31, 2017	Oct. 31, 2016
Cash and cash equivalents	$ 201,780	$ 346,765
Restricted cash and cash equivalents	24,200	22,900
Assets	2,145,296	2,354,956	[1]
Income taxes receivable – including net deferred tax benefits	283,322	283,633	[1]
Liabilities	2,273,576	2,483,466	[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, 2017 and at October 31, 2016	135,299	135,299	[1]
Paid in capital – common stock	706,509	706,137	[1]
Accumulated deficit	(856,326)	(856,183)	[1]
Treasury stock – at cost - 11,760,763 shares of Class A common stock and 691,748 shares of Class B common stock at January 31, 2017 and October 31, 2016	(115,360)	(115,360)	[1]
Total stockholders’ equity deficit	(128,280)	(128,510)	[1]
Total liabilities and equity	2,145,296	2,354,956	[1]
Common Class A [Member]
Common stock	1,439	1,438	[1]
Common Class B [Member]
Common stock	159	159	[1]
Homebuilding [Member]
Cash and cash equivalents	195,830	339,773	[1]
Restricted cash and cash equivalents	1,786	3,914	[1]
Sold and unsold homes and lots under development	945,153	899,082	[1]
Land and land options held for future development or sale	176,701	175,301	[1]
Consolidated inventory not owned	171,572	208,701	[1]
Total inventories	1,293,426	1,283,084	[1]
Investments in and advances to unconsolidated joint ventures	111,351	100,502
Receivables, deposits and notes, net	45,982	49,726	[1]
Property, plant and equipment, net	49,998	50,332	[1]
Prepaid expenses and other assets	50,352	46,762	[1]
Assets	1,748,725	1,874,093	[1]
Accounts payable and other liabilities	319,661	369,228	[1]
Customers’ deposits	35,953	37,429	[1]
Liabilities from inventory not owned, net of debt issuance costs	124,394	150,179	[1]
Revolving credit facility	52,000	52,000	[1]
Notes payable and term loan, net of discount and debt issuance costs	1,567,673	1,605,758	[1]
Liabilities	2,187,206	2,311,021	[1]
Homebuilding [Member] \| Nonrecourse Mortgages Secured By Inventory [Member] \| Mortgages [Member]
Nonrecourse mortgages secured by inventory, net of debt issuance costs	73,528	82,115
Homebuilding [Member] \| Nonrecourse Mortgages Secured by Operating Properties [Member] \| Mortgages [Member]
Nonrecourse mortgages secured by inventory, net of debt issuance costs	13,997	14,312	[1]
Financial Services [Member]
Assets	113,249	197,230	[1]
Liabilities	$ 86,370	$ 172,445	[1]

[1]	Derived from the audited balance sheet as of October 31, 2016.

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Millions	Jan. 31, 2017	Oct. 31, 2016	[1]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	100,000	100,000
Preferred stock, shares issued (in shares)	5,600	5,600
Preferred stock, shares outstanding (in shares)	5,600	5,600
Preferred stock, liquidation preference	$ 140	$ 140
Common Class A [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	143,870,764	143,806,775
Common stock, shares held in Treasury (in shares)	11,760,763	11,760,763
Common Class B [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	60,000,000	60,000,000
Common stock, shares issued (in shares)	15,942,809	15,942,809
Common stock, shares held in Treasury (in shares)	691,748	691,748

[1]	Derived from the audited balance sheet as of October 31, 2016.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Jan. 31, 2017	Jan. 31, 2016
Total revenues		$ 552,009	$ 575,605
Inventory impairment loss and land option write-offs		3,184	11,681
Corporate general and administrative		15,656	16,321
Other interest	[1],[2]	22,627	21,225
Other operations		1,587	1,384
Total expenses		557,666	587,319
Gain on extinguishment of debt		7,646
Loss from unconsolidated joint ventures		(1,666)	(1,480)
Income (loss) before income taxes		323	(13,194)
Tax provision (benefit)		466	2,979
Net loss		$ (143)	$ (16,173)
Loss per common share, basic (in dollars per share)		$ 0	$ (0.11)
Weighted-average number of common shares outstanding, basic (in shares)		147,535	147,139
Loss per common share, assuming dilution (in dollars per share)		$ 0	$ (0.11)
Weighted-average number of common shares outstanding, assuming dilution (in shares)		147,535	147,139
State and Local Jurisdiction [Member]
Tax provision (benefit)		$ (18)	$ 4,319
Domestic Tax Authority [Member]
Tax provision (benefit)		484	(1,340)
Homebuilding [Member]
Sale of homes		531,415	556,775
Land sales and other revenues		7,745	604
Total homebuilding		539,160	557,379
Cost of sales, excluding interest		445,027	464,146
Cost of sales interest		18,322	16,843
Inventory impairment loss and land option write-offs		3,184	11,681
Total cost of sales		466,533	492,670
Selling, general and administrative		44,408	47,504
Total homebuilding expenses		510,941	540,174
Total expenses		550,811	579,104
Financial Services [Member]
Financial services		12,849	18,226
Financial services		6,855	8,215
Total expenses		$ 6,855	$ 8,215

[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 Stateme5

Condensed Consolidated Statement of Equity (Unaudited) - 3 months ended Jan. 31, 2017 - USD ($) $ in Thousands	Common Stock [Member]Common Class A [Member]	Common Stock [Member]Common Class B [Member]	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Total
Balance (in shares) at Oct. 31, 2016	132,046,012	15,251,061	5,600
Balance at Oct. 31, 2016	$ 1,438	$ 159	$ 135,299	$ 706,137	$ (856,183)	$ (115,360)	$ (128,510)	[1]
Stock options, amortization and issuances				138			138
Restricted stock amortization, issuances and forfeitures (in shares)	63,989
Restricted stock amortization, issuances and forfeitures	$ 1			234			235
Net loss					(143)		(143)
Balance (in shares) at Jan. 31, 2017	132,110,001	15,251,061	5,600
Balance at Jan. 31, 2017	$ 1,439	$ 159	$ 135,299	$ 706,509	$ (856,326)	$ (115,360)	$ (128,280)

[1]	Derived from the audited balance sheet as of October 31, 2016.

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Cash flows from operating activities:
Net loss	$ (143)	$ (16,173)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	1,013	865
Compensation from stock options and awards	452	1,545
Amortization of bond discounts and deferred financing costs	4,129	2,971
Gain on sale and retirement of property and assets	(56)	(81)
Loss from unconsolidated joint ventures	1,666	1,480
Distributions of earnings from unconsolidated joint ventures	185
Gain on extinguishment of debt	(7,646)
Inventory impairment and land option write-offs	3,184	11,681
Deferred income tax provision	20	2,616
(Increase) decrease in assets:
Origination of mortgage loans	(229,537)	(275,617)
Sale of mortgage loans	312,027	240,976
Restricted cash, receivables, prepaids, deposits and other assets	4,833	(2,877)
Inventories	(13,526)	(19,089)
State income tax payable	291	275
Customers’ deposits	(1,476)	(1,785)
Accounts payable, accrued interest and other accrued liabilities	(49,500)	(11,868)
Net cash provided by (used in) operating activities	25,916	(65,081)
Cash flows from investing activities:
Proceeds from sale of property and assets	60	93
Purchase of property, equipment and other fixed assets and acquisitions	(560)	(1,253)
Investments in and advances to unconsolidated joint ventures	(14,639)	(11,497)
Distributions of capital from unconsolidated joint ventures	1,939	2,132
Net cash used in investing activities	(15,525)	(10,554)
Cash flows from financing activities:
Proceeds from mortgages and notes	54,396	57,592
Payments related to mortgages and notes	(63,307)	(72,985)
Proceeds from model sale leaseback financing programs	747	9,339
Payments related to model sale leaseback financing programs	(4,268)	(7,110)
Proceeds from land bank financing programs	4,788	138,314
Payments related to land bank financing programs	(27,650)	(3,240)
Payments for senior notes and senior amortizing notes	(33,086)	(175,040)
Net proceeds (payments) related to mortgage warehouse lines of credit	(86,058)	31,481
Deferred financing cost from land bank financing program and note issuances	(938)	(3,883)
Net cash (used in) financing activities	(155,376)	(25,532)
Net decrease in cash and cash equivalents	(144,985)	(101,167)
Cash and cash equivalents balance, beginning of period	346,765	253,745
Cash and cash equivalents balance, end of period	201,780	152,578
Supplemental disclosure of cash flow:
Interest, net of capitalized interest (see Note 3 to the Condensed Consolidated Financial Statements)	24,019	33,000
Income taxes	154	88
Related to Mortgage Company [Member]
Cash flows from investing activities:
(Increase) decrease in restricted cash	(2,324)	(81)
Related to Letters of Credit [Member]
Cash flows from investing activities:
(Increase) decrease in restricted cash	$ (1)	$ 52

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	3 Months Ended
Note 1 - Basis of Presentation	Jan. 31, 2017
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	1. Basis of Presentation Hovnanian Enterprises, Inc. and Subsidiaries (the “Company”, “we”, “us” or “our”) has reportable segments consisting of six 16). 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 10 10 October 31, 2016. October 31, 2016 Reclassifications In November 2016, 2015 03, $24.5 $1.3 $3.0 $20.2 11) We applied the new guidance retrospectively to all prior periods presented in the financial statements to conform to the fiscal 2017 November 2016, 2015 15 835 30)” 2015 15”), 2015 03. 2015 15

Note 2 - Stock Compensation

Note 2 - Stock Compensation	3 Months Ended
Note 2 - Stock Compensation	Jan. 31, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	2. Stock Compensation The Company’s total stock-based compensation expense was $0.5 $1.5 three January 31, 2017 2016, $ 0.1 three January 31, 2017 2016.

Note 3 - Interest

Note 3 - Interest	3 Months Ended
Note 3 - Interest	Jan. 31, 2017
Notes to Financial Statements
Home Building Interest [Text Block]	3. Interest Interest costs incurred, expensed and capitalized were: Three Months Ended January 31, (In thousands) 2017 2016 Interest capitalized at beginning of period $96,688 $123,898 Plus interest incurred(1) 38,699 41,959 Less cost of sales interest expensed 18,322 16,843 Less other interest expensed(2)(3) 22,627 21,225 Less interest transferred to unconsolidated joint venture(4) - 10,676 Interest capitalized at end of period(5) $94,438 $117,113 (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) 2017 2016 Other interest expensed $22,627 $21,225 Interest paid by our mortgage and finance subsidiaries 629 559 Decrease in accrued interest 763 11,216 Cash paid for interest, net of capitalized interest $24,019 $33,000 (4) Represents capitalized interest which was included as part of the assets transferred to the joint venture the Company entered into in November 2015, 17. (5) Capitalized interest amounts are shown gross before allocating any portion of impairments, if any, to capitalized interest.

Note 4 - Reduction of Inventory

Note 4 - Reduction of Inventory to Fair Value	3 Months Ended
Note 4 - Reduction of Inventory to Fair Value	Jan. 31, 2017
Notes to Financial Statements
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 first 2017, 18.3% 19.8%. first 2016, no six may During the three January 31, 2017 2016, 390 512 three January 31, 2017 2016 six eleven $13.8 $46.2 three January 31, 2017 2016, one four $1.2 $17.3 20%. three January 31, 2017 2016, $2.7 five $12.6 $9.7 six $28.7 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 $0.5 $2.0 three January 31, 2017 2016, three January 31, 2017 2016 1,061 1,256, first 2017, , in the first 2016. 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 2017, not one January 31, 2017 October 31, 2016, 28 29 $69.3 $74.4 $268.0 $296.3 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, January 31, 2017 October 31, 2016, no 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 360 20 40 38, January 31, 2017 October 31, 2016, $75.5 $79.2 $66.3 $69.7 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, January 31, 2017 October 31, 2016, $96.1 $129.5 $58.1 $8 0.5

Note 5 - Variable Interest Enti

Note 5 - Variable Interest Entities	3 Months Ended
Note 5 - Variable Interest Entities	Jan. 31, 2017
Notes to Financial Statements
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, may In compliance with ASC 810, 810 January 31, 2017 October 31, 2016, 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, 2017, $52.5 $914.1

Note 6 - Warranty Costs

Note 6 - Warranty Costs	3 Months Ended
Note 6 - Warranty Costs	Jan. 31, 2017
Notes to Financial Statements
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 January 31, 2017 2016, $0.9 $1.0 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 2017 2016, $ 20 2017 2016 $ 0.25 $ 5 2017 2016 $ 21 three January 2017 2016 Three Months Ended January 31, (In thousands) 2017 2016 Balance, beginning of period $121,144 $135,053 Additions – Selling, general and administrative 2,908 4,623 Additions – Cost of sales 3,487 3,382 Charges incurred during the period (9,526 ) (9,669 ) Changes to pre-existing reserves - - Balance, end of period $118,013 $133,389 Warranty accruals are based upon historical experience. We engage a third Insurance claims paid by our insurance carriers, excluding insurance deductibles paid, were less than $0.1 $3.2 three January 2017 2016, first 2016 two .

Note 7 - Commitments and Contin

Note 7 - Commitments and Contingent Liabilities	3 Months Ended
Note 7 - Commitments and Contingent Liabilities	Jan. 31, 2017
Notes to Financial Statements
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 may may In March 2013, 1990s. August 2013, may April 2014 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

Note 8 - Restricted Cash and De

Note 8 - Restricted Cash and Deposits	3 Months Ended
Note 8 - Restricted Cash and Deposits	Jan. 31, 2017
Notes to Financial Statements
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 may, January 31, 2017 October 31, 2016, $6.9 $9.4 Restricted cash and cash equivalents on the Condensed Consolidated Balance Sheets totaled $24.2 $22.9 January 31, 2017 October 31, 2016, 10. (1) $0.1 $20.4 January 31, 2017, $2.2 $15.1 October 31, 2016, (2) $2.0 January 31, 2017 $3.9 October 31, 2016, 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.

Note 9 - Mortgage Loans Held fo

Note 9 - Mortgage Loans Held for Sale	3 Months Ended
Note 9 - Mortgage Loans Held for Sale	Jan. 31, 2017
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	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 third At January 31, 2017 October 31, 2 016, $65.2 $147.4 10). may January 31, 2017 2016, 93 131 The activity in our loan origination reserves during the three January 31, 2017 2016 Three Months Ended January 31, (In thousands) 2017 2016 Loan origination reserves, beginning of period $8,137 $8,025 Provisions for losses during the period 34 41 Adjustments to pre-existing provisions for losses from changes in estimates (3,094 ) (38 ) Loan origination reserves, end of period $5,077 $8,028

Note 10 - Mortgages and Notes P

Note 10 - Mortgages and Notes Payable	3 Months Ended
Note 10 - Mortgages and Notes Payable	Jan. 31, 2017
Notes to Financial Statements
Line of Credit [Text Block]	10. Mortgages and Notes Payable We have nonrecourse mortgage loans for certain communities totaling $73.5 $82.1 January 31, 2017 October 31, 2016, with an aggregate book value of $195.8 $201.8 5.1% 4.9% January 31, 2017 October 31, 2016, $14.0 $14.3 January 31, 2017 October 31, 2016, 8.8% January 31, 2017 October 31, 2016, January 31, 2017, October 31 $1.0 2017, $1.4 2018, $1.5 2019, $1.7 2020, $1.8 2021 $6.6 2021. In June 2013, five $75.0 8.0% 2019, 11. two first January 31, 2017 $52.0 $16.0 October 31, 2016, $52.0 $17.9 January 31, 2017, In addition to the Credit Facility, we have certain stand–alone cash collateralized letter of credit agreements and facilities under which there was a total of $1.7 January 31, 2017 October 31, 2016, January 31, 2017 October 31, 2016, $1.7 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 January 31, 2017 January 30, 2018, $50.0 0.78% January 31, 2017, 2.5% 2.63% January 31, 2017 October 31, 2016, $25.7 $44.1 K. Hovnanian Mortgage has another secured Master Repurchase Agreement with Customers Bank (“Customers Master Repurchase Agreement”), which was amended on February 17, 2017, that is a short-term borrowing facility that provides up to $50.0 February 16, 2018. 2.5% 5.25% January 31, 2017 October 31, 2016, $19.1 $38.8 K. Hovnanian Mortgage has a third February 23, 2016, $50.0 February 21, 2017. 1.37% January 31, 2017, 2.25% 2.5%. January 31, 2017. October 31, 2016 $32.9 . In February 2014, December 23, 2016 December 22, 2017. $50.0 0.25%, 2.5%. January 31, 2017 October 31, 2016, $14.7 $29.8 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, 2017,

Note 11 - Senior Notes and Term

Note 11 - Senior Notes and Term Loan	3 Months Ended
Note 11 - Senior Notes and Term Loan	Jan. 31, 2017
Notes to Financial Statements
Long-term Debt [Text Block]	11. Senior Notes and Term Loan Senior Notes and Term Loan balances as of January 31, 2017 October 31, 2016, (In thousands) January 31, 2017(1) (2) October 31, 2016(1) (2) Senior Secured Term Loan, net of debt issuance costs $72,623 $72,646 Senior Secured Notes: 7.25% Senior Secured First Lien Notes due October 15, 2020 $570,101 $569,641 10.0% Senior Secured Second Lien Notes due October 15, 2018 (net of discount) 69,372 68,951 9.125% Senior Secured Second Lien Notes due November 15, 2020 143,439 143,337 9.5% Senior Secured Notes due November 15, 2020 74,192 74,140 2.0% Senior Secured Notes due November 1, 2021 (net of discount) 53,031 53,022 5.0% Senior Secured Notes due November 1, 2021 (net of discount) 132,425 131,998 Total Senior Secured Notes, net of debt issuance costs $1,042,560 $1,041,089 Senior Notes: 7.0% Senior Notes due January 15, 2019 $131,603 $148,800 8.0% Senior Notes due November 1, 2019 233,667 247,348 Total Senior Notes, net of debt issuance costs $365,270 $396,148 11.0% Senior Amortizing Notes due December 1, 2017, net of debt issuance costs $3,911 $6,152 Senior Exchangeable Notes due December 1, 2017, net of debt issuance costs $51,647 $57,298 (1) January 31, 2017 October 31, 2016 $31.7 $32.4 . (2) 1, 2015 03 January 2017. 2017 $20.2 October 31, 2016, January 31, 2017 $18.6 General Except for K. Hovnanian, the issuer of the notes, our home mortgage subsidiaries, joint ventures and subsidiaries holding interests in our joint ventures and certain of our title insurance subsidiaries, we and each of our subsidiaries are guarantors of the senior secured term loan and senior secured, senior, senior amortizing and senior exchangeable notes outstanding at January 31, 2017 5.0% 2021 “5.0% 2021 2.0% 2021 “2.0% 2021 5.0% 2021 “2021 9.5% 2020 2021 The Term Loan Credit Agreement (defined below) and the indentures governing the notes outstanding at January 31, 2017 may January 15, 2021 February 15, 2021 January 31, 2017, Under the terms of our debt agreements, we have the right to make certain redemptions and prepayments and, depending on market conditions and covenant restrictions, may may tender If our consolidated fixed charge coverage ratio, as defined in the agreements governing our debt instruments (other than the senior exchangeable notes discussed below), is less than 2.0 1.0, 7.625% As a result of our evaluation of our geographic operating footprint as it relates to our strategic objectives, we decided to exit the Minneapolis, MN and Raleigh, NC markets, and in the third 2016, Any 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 with certain maturity requirements as discussed above (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. Fiscal 2017 During the three January 31, 2017, $17.5 7.0% 2019, $14.0 8.0% 2019 6,925 $6.9 $30.8 $7.8 Secured Obligations Our $75.0 August 1, 2019 7.0% 2019 “7.0% October 15, 2018, October 15, 2018, 7.0% January 15, 2021, October 15, 2018) 7.0% 6.0%, September 8, 2018, may February 1, 2019 1.0% February 1, 2019 Our 10.0% “10.0% October 15, 2018, 10.0% February 15 August 15 February 15, 2017, February 1 August 1, may 10.0% July 15, 2018 100% July 15, 2018, may 10.0% 100% may 35% 10.0% July 15, 2018 110.00% Our 9.5% “9.5% November 15, 2020, 9.50% February 15 August 15 February 15, 2017, February 1 August 1, may 9.5% November 15, 2018 100% November 15, 2018, may 9.5% 100% may 35% 9.5% November 15, 2018 109.50% All of K. Hovnanian’s obligations under the Term Loan Facility and the 10.0% first 9.125% 10.0% 10.0% second 9.125% 9.5% 9.5% first 2021 The 5.0% 2021 2.0% 2021 2021 100.0% 1% The guarantees of the JV Holdings Secured Group with respect to the 2021 9.5% first January 31, 2017, (1) $57.4 (2) $140.0 may (3) $97.1 January 31, 2017; 2021 K. Hovnanian also has outstanding 7.25% 2020 9.125% 2020 "9.125% "2020 may 103.625% October 15, 2016, 101.813% October 15, 2017 100% October 15, 2018. may 9.125% 104.563% November 15, 2016, 102.281% November 15, 2017 100% November 15, 2018. The First Lien Notes are secured by a first 9.125% 10.0% second At January 31, 2017, 2020 10.0% $587.8 may 2020 10.0% $140.1 January 31, 2017, $1.7 Senior Notes K. Hovnanian’s 7.0% 2019 July 15, 2016 100% may 103.5% July 15, 2016, 101.75% January 15, 2017 100% January 15, 2018. K. Hovnanian’s 8.0% 2019 August 1, 2019 100% August 1, 2019, may 100% Units On October 2, 2012, $100,000,000 6.0% 100,000 $1,000 (1) zero December 1, 2017 $768.51 $1,000 (2) December 1, 2017 $231.49 11.0% December 1, 2017. may may Each Senior Exchangeable Note had an initial principal amount of $768.51 $1,000 5.17% may 5:00 December 1, 2017. 185.5288 $1,000 $5.39 January 31, 2017, 18,305 3.4 first 2013. September 2016, 20,823 $20.6 November 2016, 6,925 $6.9 On each June 1 December 1 $30.00 June 1, 2013 $39.83 6.0% $1,000 11.0%

Note 12 - Per Share Calculation

Note 12 - Per Share Calculation	3 Months Ended
Note 12 - Per Share Calculation	Jan. 31, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	12. 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% 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 two There were no three January 31, 2017 2016. three January 31, 2017 2016, 10.0 15.2 2012) 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 4.8 6.4 three January 31, 2017 2016,

Note 13 - Preferred Stock

Note 13 - Preferred Stock	3 Months Ended
Note 13 - Preferred Stock	Jan. 31, 2017
Notes to Financial Statements
Preferred Stock [Text Block]	13. Preferred Stock On July 12, 2005, 5,600 7.625% $25,000 7.625%. 1/1000th three January 31, 2017 2016, not

Note 14 - Common Stock

Note 14 - Common Stock	3 Months Ended
Note 14 - Common Stock	Jan. 31, 2017
Notes to Financial Statements
Common Stock [Text Block]	14. Common Stock Each share of Class A Common Stock entitles its holder to one ten 110% one one On August 4, 2008, 382 382. 382 5% 50 382. one August 15, 2008. August 15, 2008, 4.9% 4.9% may August 15, 2018, December 5, 2008. December 5, 2008, 382 5% 5% 5% 5% 5% On July 3, 2001, 4 no three January 31, 2017. January 31, 2017, may 0.5

Note 15 - Income Taxes

Note 15 - Income Taxes	3 Months Ended
Note 15 - Income Taxes	Jan. 31, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	15. Income Taxes The total income tax expense of $0.5 three January 31, 2017 $3.0 three January 31, 2016 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, 740 As of October 31, 2014, fourth 2014. As expected at the time of that conclusion, our earnings have continued to improve such that we have not been and are currently not in a three January 31, 2017. 740, one three $628.1 January 31, 2017

Note 16 - Operating and Reporti

Note 16 - Operating and Reporting Segments	3 Months Ended
Note 16 - Operating and Reporting Segments	Jan. 31, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	16. 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 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 2016, third 2016, Homebuilding: (1) Northeast (New Jersey and Pennsylvania) (2) Mid-Atlantic (Delaware, Maryland, Virginia, Washington D.C. and West Virginia) (3) Midwest (Illinois and Ohio) (4) Southeast (Florida, Georgia 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 lifestyle 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) 2017 2016 Revenues: Northeast $58,575 $72,504 Mid-Atlantic 100,226 93,820 Midwest 43,702 91,920 Southeast 56,584 39,252 Southwest 183,409 204,325 West 96,531 55,578 Total homebuilding 539,027 557,399 Financial services 12,849 18,226 Corporate and unallocated 133 (20 ) Total revenues $552,009 $575,605 Income (loss) before income taxes: Northeast $906 $2,734 Mid-Atlantic 3,882 2,622 Midwest 712 (5,559 ) Southeast (294 ) (1,834 ) Southwest 11,923 16,369 West (754 ) (5,968 ) Homebuilding income before income taxes 16,375 8,364 Financial services 5,994 10,011 Corporate and unallocated (22,046 ) (31,569 ) Income (loss) before income taxes $323 $(13,194 ) (In thousands) January 31, 2017 October 31, 2016 Assets: Northeast $211,610 $219,363 Mid-Atlantic 292,866 292,899 Midwest 107,213 111,596 Southeast 235,600 226,124 Southwest 371,940 341,472 West 254,379 269,400 Total homebuilding 1,473,608 1,460,854 Financial services 113,249 197,230 Corporate and unallocated (1) 558,439 696,872 Total assets $2,145,296 $2,354,956 (1) $283.3 $283.6 , including deferred tax assets , as of January 31, 2017 October 31, 2016,

Note 17 - Investments in Uncons

Note 17 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures	3 Months Ended
	Jan. 31, 2017
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	17. 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 third third In November 2015, $25.7 third 2016, eight one $29.8 first 2017, one three $11.2 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, 2017 Homebuilding Land Development Total Assets: Cash and cash equivalents $39,100 $446 $39,546 Inventories 594,106 11,199 605,305 Other assets 29,202 - 29,202 Total assets $662,408 $11,645 $674,053 Liabilities and equity: Accounts payable and accrued liabilities $84,920 $943 $85,863 Notes payable 265,561 2,159 267,720 Total liabilities 350,481 3,102 353,583 Equity of: Hovnanian Enterprises, Inc. 97,074 3,330 100,404 Others 214,853 5,213 220,066 Total equity 311,927 8,543 320,470 Total liabilities and equity $662,408 $11,645 $674,053 Debt to capitalization ratio 46 % 20 % 46 % (Dollars in thousands) October 31, 2016 Homebuilding Land Development Total Assets: Cash and cash equivalents $48,542 $1,478 $50,020 Inventories 516,947 11,010 527,957 Other assets 25,865 - 25,865 Total assets $591,354 $12,488 $603,842 Liabilities and equity: Accounts payable and accrued liabilities $72,302 $1,812 $74,114 Notes payable 214,911 2,261 217,172 Total liabilities 287,213 4,073 291,286 Equity of: Hovnanian Enterprises, Inc. 88,379 3,220 91,599 Others 215,762 5,195 220,957 Total equity 304,141 8,415 312,556 Total liabilities and equity $591,354 $12,488 $603,842 Debt to capitalization ratio 41 % 21 % 41 % As of January 31, 2017 October 31, 2016, $10.9 $8.9 $111.4 $100.5 January 31, 2017 October 31, 2016, For the Three Months Ended January 31, 2017 (In thousands) Homebuilding Land Development Total Revenues $64,937 $1,202 $66,139 Cost of sales and expenses (67,226 ) (982 ) (68,208 ) Joint venture net (loss) income $(2,289 ) $220 $(2,069 ) Our share of net (loss) income $(1,681 ) $110 $(1,571 ) 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 ) “(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 $2.2 $0.8 three January 31, 2017 2016, 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% 46%. 810 10

Note 18 - Recent Accounting Pro

Note 18 - Recent Accounting Pronouncements	3 Months Ended
Note 18 - Recent Accounting Pronouncements	Jan. 31, 2017
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	18. Recent Accounting Pronouncements In May 2014, 2014 09, 606), 2014 09”). 2014 09 (1) (2) (3) (4) (5) 2014 09 605, August 2015, 2015 14 one 2014 09, November 1, 2018. December 15, 2016. In August 2014, 2014 15, 2014 15”), one 2014 15 October 31, 2017. 2014 15 In February 2016, 2016 02, 842)” 2016 02”), 2016 02 12 2016 02 November 1, 2019. In March 2016, 2016 09, 718): 2016 09”). 2016 09 2016 09 November 1, 2017. 2016 09 second 2016. In August 2016, 2016 15, 230): 2016 15”). 2016 15 2016 15 November 1, 2018. In October 2016, 2016 16, 740): 2016 16”). 2016 16 2016 16 November 1, 2018. In October 2016, 2016 17, 810): 2016 17”). 2016 17 2016 17 November 1, 2017. In November 2016, 2016 18, 230): 2016 18”). 2016 18 2016 18 November 1, 2018.

Note 19 - Fair Value of Financi

Note 19 - Fair Value of Financial Instruments	3 Months Ended
Note 19 - Fair Value of Financial Instruments	Jan. 31, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	19. Fair Value of Financial Instruments ASC 820, Level 1: Level 2: Level 3: Our financial instruments measured at fair value on a recurring basis are summarized below: (In thousands) Fair Value Hierarchy Fair Value at January 31, 2017 Fair Value at October 31, 2016 Mortgage loans held for sale (1) Level 2 $82,486 $165,077 Interest rate lock commitments Level 2 (10 ) (80 ) Forward contracts Level 2 117 86 Total $82,593 $165,083 (1) $72.0 $149.4 January 31, 2017 October 31, 2016, We elected the fair value option for our loans held for sale for mortgage loans originated subsequent to October 31, 2008, 825, The Financial Services segment had a pipeline of loan applications in process of $526.7 January 31, 2017. $63.6 January 31, 2017. 60 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, 2017, $29.0 March 21, 2017. 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, 2017 (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 $(3,024 ) $70 $31 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 ) 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 January 31, 2017 2016. Nonfinancial Assets Three Months Ended January 31, 2017 (In thousands) Fair Value Hierarchy Pre- Impairment Amount Total Losses Fair Value Sold and unsold homes and lots under development Level 3 $6,302 $(2,587 ) $3,715 Land and land options held for future development or sale Level 3 $6,326 $(81 ) $6,245 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 We record impairment losses on inventories related to communities under development and held for future development when events and circumstances indicate that they may may $2.7 $9.7 three January 31, 2017 2016, 4 The fair value of our cash equivalents and restricted cash and cash equivalents approximates their carrying amount, based on Level 1 The fair value of our borrowings under the revolving credit and term loan facilities approximates their carrying amount based on level 2 2 $316.3 $251.7 January 31, 2017 October 31, 2016, 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 3 $953.3 $4.0 $52.3 January 31, 2017. October 31, 2016, $883.0 $6.3 $55.2

Note 20 - Financial Information

Note 20 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors	3 Months Ended
	Jan. 31, 2017
Notes to Financial Statements
Condensed Financial Statements [Text Block]	20. 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, 2017, $1,067.0 ($1,042.6 $368.5 ($365.3 $4.0 ($3.9 $51.9 6.0% ($51.6 In addition to the Parent, each of the wholly owned subsidiaries of the Parent other than the Subsidiary Issuer (collectively, “Notes Guarantors”), with the exception of our home mortgage subsidiaries, certain of our title insurance subsidiaries, joint ventures and subsidiaries holding interests in our joint ventures (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 9.5% 100% 2021 9.5% 11). The senior amortizing notes and senior exchangeable notes have been registered under the Securities Act of 1933, 7.0% 2019, 8.0% 2019 11) 7.0% 2019, 8.0% 2019 7.0% 2019, 8.0% 2019, 2020 10.0% 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 Notes Guarantors, (iv) the Nonguarantor Subsidiaries and (v) the eliminations to arrive at the information for Hovnanian Enterprises, Inc. on a consolidated basis. HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING BALANCE SHEET JANUARY 31, 2017 (In Thousands) Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated ASSETS: Homebuilding $- $147,033 $1,216,610 $385,082 $- $1,748,725 Financial services 19,392 93,857 113,249 Income taxes receivable 130,251 (51,663 ) 204,702 32 283,322 Intercompany receivable 1,312,141 7,353 (1,319,494 ) - Investments in and amounts due from consolidated subsidiaries 357,276 (357,276 ) - Total assets $130,251 $1,407,511 $1,797,980 $486,324 $(1,676,770 ) $2,145,296 LIABILITIES AND EQUITY: Homebuilding, excluding Notes payable and term loan and Revolving credit facility $2,179 $545 $502,953 $61,856 $- $567,533 Financial services 19,197 67,173 86,370 Notes payable and term loan and Revolving credit facility 1,616,009 3,648 16 1,619,673 Intercompany payable 157,245 1,162,249 (1,319,494 ) - Amounts due to consolidated subsidiaries 99,107 9,089 (108,196 ) - Stockholders’ (deficit) equity (128,280 ) (218,132 ) 109,933 357,279 (249,080 ) (128,280 ) Total liabilities and equity $130,251 $1,407,511 $1,797,980 $486,324 $(1,676,770 ) $2,145,296 HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING BALANCE SHEET OCTOBER 31, 2016 (In Thousands) Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated ASSETS: Homebuilding $- $271,216 $1,194,267 $408,610 $ - $1,874,093 Financial services 13,453 183,777 197,230 Income taxes receivable 115,940 (58,597 ) 226,258 32 283,633 Intercompany receivable 1,227,334 88,112 (1,315,446 ) - Investments in and amounts due from consolidated subsidiaries 4,914 437,628 (442,542 ) - Total assets $115,940 $1,444,867 $1,871,606 $680,531 $(1,757,988 ) $2,354,956 LIABILITIES AND EQUITY: Homebuilding $3,506 $1,118 $565,163 $83,476 $- $653,263 Financial services 13,338 159,107 172,445 Notes payable and term loan and Revolving credit facility 1,652,357 5,084 317 1,657,758 Intercompany payable 157,993 1,157,453 (1,315,446 ) - Amounts due to consolidated subsidiaries 82,951 (82,951 ) - Stockholders’ (deficit) equity (128,510 ) (208,608 ) 130,568 437,631 (359,591 ) (128,510 ) Total liabilities and equity $115,940 $1,444,867 $1,871,606 $680,531 $(1,757,988 ) $2,354,956 HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS THREE MONTHS ENDED JANUARY 31, 2017 (In Thousands) Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated Revenues: Homebuilding $- $- $455,372 $83,788 $- $539,160 Financial services 2,498 10,351 12,849 Intercompany charges 22,940 (22,940 ) - Total revenues - 22,940 457,870 94,139 (22,940 ) 552,009 Expenses: Homebuilding 528 33,042 444,593 72,648 550,811 Financial services 1,713 5,142 6,855 Intercompany charges 22,940 (22,940 ) - Total expenses 528 33,042 469,246 77,790 (22,940 ) 557,666 Gain on extinguishment of debt 7,646 7,646 Income (loss) from unconsolidated joint ventures 16 (1,682 ) (1,666 ) (Loss) income before income taxes (528 ) (2,456 ) (11,360 ) 14,667 - 323 State and federal income tax (benefit) provision (16,541 ) (6,935 ) 23,942 466 Equity in (loss) income of consolidated subsidiaries (16,156 ) (14,003 ) 14,667 15,492 - Net (loss) income $(143 ) $(9,524 ) $(20,635 ) $14,667 $15,492 $(143 ) HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 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 Income (loss) 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 (benefit) provision (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 ) HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS THREE MONTHS ENDED JANUARY 31, 2017 (In Thousands) Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: Net (loss) income $(143 ) $(9,524 ) $(20,635 ) $14,667 $15,492 $(143 ) Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities (15,265 ) (10,126 ) 66,555 387 (15,492 ) 26,059 Net cash (used in) provided by operating activities (15,408 ) (19,650 ) 45,920 15,054 - 25,916 Cash flows from investing activities: Proceeds from sale of property and assets 60 60 Purchase of property, equipment & other fixed assets and acquisitions (560 ) (560 ) Increase in restricted cash related to mortgage company (2,324 ) (2,324 ) Decrease in restricted cash related to letters of credit (1 ) (1 ) Investments in and advances to unconsolidated joint ventures (93 ) (94 ) (14,452 ) (14,639 ) Distributions of capital from unconsolidated joint ventures 231 1,708 1,939 Intercompany investing activities (70,802 ) 70,802 - Net cash (used in) provided by investing activities - (70,896 ) (363 ) (15,068 ) 70,802 (15,525 ) Cash flows from financing activities: Net payments from mortgages and notes 2,154 (11,065 ) (8,911 ) Net proceeds from model sale leaseback financing programs (2,205 ) (1,316 ) (3,521 ) Net proceeds from land bank financing programs (18,371 ) (4,491 ) (22,862 ) Payments related to senior notes and senior amortizing notes (33,086 ) (33,086 ) Net proceeds related to mortgage warehouse lines of credit (86,058 ) (86,058 ) Deferred financing cost from land bank financing program and note issuances (528 ) (397 ) (13 ) (938 ) Intercompany financing activities 15,408 (25,365 ) 80,759 (70,802 ) - Net cash provided by (used in) financing activities 15,408 (33,614 ) (44,184 ) (22,184 ) (70,802 ) (155,376 ) Net decrease in cash and cash equivalents - (124,160 ) 1,373 (22,198 ) - (144,985 ) Cash and cash equivalents balance, beginning of period 261,553 (395 ) 85,607 346,765 Cash and cash equivalents balance, end of period $- $137,393 $978 $63,409 $- $201,780 HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 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 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 mortgage company 52 52 Investments in and advances to unconsolidated joint ventures (130 ) (865 ) (10,502 ) (11,497 ) Distribution of capital from unconsolidated joint ventures 80 2,052 2,132 Intercompany investing activities 117,284 (117,284 ) - Net cash used in investing activities - 117,206 (1,936 ) (8,540 ) (117,284 ) (10,554 ) Cash flows from financing activities: Net proceeds 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 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

Note 21 - Transactions With Rel

Note 21 - Transactions With Related Parties	3 Months Ended
Note 21 - Transactions With Related Parties	Jan. 31, 2017
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	21. Transactions with Related Parties During the three January 31, 2017 2016, $0.2 $0.3

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
Significant Accounting Policies (Policies)	Jan. 31, 2017
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Hovnanian Enterprises, Inc. and Subsidiaries (the “Company”, “we”, “us” or “our”) has reportable segments consisting of six 16). 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 10 10 October 31, 2016. October 31, 2016
Reclassification, Policy [Policy Text Block]	Reclassifications In November 2016, 2015 03, $24.5 $1.3 $3.0 $20.2 11) We applied the new guidance retrospectively to all prior periods presented in the financial statements to conform to the fiscal 2017 November 2016, 2015 15 835 30)” 2015 15”), 2015 03. 2015 15

Note 3 - Interest (Tables)

Note 3 - Interest (Tables)	3 Months Ended
Note 3 - Interest (Tables)	Jan. 31, 2017
Notes Tables
Schedule of Real Estate Inventory, Capitalized Interest Costs [Table Text Block]	Three Months Ended January 31, (In thousands) 2017 2016 Interest capitalized at beginning of period $96,688 $123,898 Plus interest incurred(1) 38,699 41,959 Less cost of sales interest expensed 18,322 16,843 Less other interest expensed(2)(3) 22,627 21,225 Less interest transferred to unconsolidated joint venture(4) - 10,676 Interest capitalized at end of period(5) $94,438 $117,113
Cash Paid for Interest Net of Capitalized Interest [Table Text Block]	Three Months Ended January 31, (In thousands) 2017 2016 Other interest expensed $22,627 $21,225 Interest paid by our mortgage and finance subsidiaries 629 559 Decrease in accrued interest 763 11,216 Cash paid for interest, net of capitalized interest $24,019 $33,000

Note 6 - Warranty Costs (Tables

Note 6 - Warranty Costs (Tables)	3 Months Ended
Note 6 - Warranty Costs (Tables)	Jan. 31, 2017
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Three Months Ended January 31, (In thousands) 2017 2016 Balance, beginning of period $121,144 $135,053 Additions – Selling, general and administrative 2,908 4,623 Additions – Cost of sales 3,487 3,382 Charges incurred during the period (9,526 ) (9,669 ) Changes to pre-existing reserves - - Balance, end of period $118,013 $133,389

Note 9 - Mortgage Loans Held 31

Note 9 - Mortgage Loans Held for Sale (Tables)	3 Months Ended
Note 9 - Mortgage Loans Held for Sale (Tables)	Jan. 31, 2017
Notes Tables
Allowance for Credit Losses on Financing Receivables [Table Text Block]	Three Months Ended January 31, (In thousands) 2017 2016 Loan origination reserves, beginning of period $8,137 $8,025 Provisions for losses during the period 34 41 Adjustments to pre-existing provisions for losses from changes in estimates (3,094 ) (38 ) Loan origination reserves, end of period $5,077 $8,028

Note 11 - Senior Notes and Te32

Note 11 - Senior Notes and Term Loan (Tables)	3 Months Ended
Note 11 - Senior Notes and Term Loan (Tables)	Jan. 31, 2017
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	(In thousands) January 31, 2017(1) (2) October 31, 2016(1) (2) Senior Secured Term Loan, net of debt issuance costs $72,623 $72,646 Senior Secured Notes: 7.25% Senior Secured First Lien Notes due October 15, 2020 $570,101 $569,641 10.0% Senior Secured Second Lien Notes due October 15, 2018 (net of discount) 69,372 68,951 9.125% Senior Secured Second Lien Notes due November 15, 2020 143,439 143,337 9.5% Senior Secured Notes due November 15, 2020 74,192 74,140 2.0% Senior Secured Notes due November 1, 2021 (net of discount) 53,031 53,022 5.0% Senior Secured Notes due November 1, 2021 (net of discount) 132,425 131,998 Total Senior Secured Notes, net of debt issuance costs $1,042,560 $1,041,089 Senior Notes: 7.0% Senior Notes due January 15, 2019 $131,603 $148,800 8.0% Senior Notes due November 1, 2019 233,667 247,348 Total Senior Notes, net of debt issuance costs $365,270 $396,148 11.0% Senior Amortizing Notes due December 1, 2017, net of debt issuance costs $3,911 $6,152 Senior Exchangeable Notes due December 1, 2017, net of debt issuance costs $51,647 $57,298

Note 16 - Operating and Repor33

Note 16 - Operating and Reporting Segments (Tables)	3 Months Ended
Note 16 - Operating and Reporting Segments (Tables)	Jan. 31, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	(In thousands) January 31, 2017 October 31, 2016 Assets: Northeast $211,610 $219,363 Mid-Atlantic 292,866 292,899 Midwest 107,213 111,596 Southeast 235,600 226,124 Southwest 371,940 341,472 West 254,379 269,400 Total homebuilding 1,473,608 1,460,854 Financial services 113,249 197,230 Corporate and unallocated (1) 558,439 696,872 Total assets $2,145,296 $2,354,956
Operating Segments [Member]
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended January 31, (In thousands) 2017 2016 Revenues: Northeast $58,575 $72,504 Mid-Atlantic 100,226 93,820 Midwest 43,702 91,920 Southeast 56,584 39,252 Southwest 183,409 204,325 West 96,531 55,578 Total homebuilding 539,027 557,399 Financial services 12,849 18,226 Corporate and unallocated 133 (20 ) Total revenues $552,009 $575,605 Income (loss) before income taxes: Northeast $906 $2,734 Mid-Atlantic 3,882 2,622 Midwest 712 (5,559 ) Southeast (294 ) (1,834 ) Southwest 11,923 16,369 West (754 ) (5,968 ) Homebuilding income before income taxes 16,375 8,364 Financial services 5,994 10,011 Corporate and unallocated (22,046 ) (31,569 ) Income (loss) before income taxes $323 $(13,194 )

Note 17 - Investments in Unco34

Note 17 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures (Tables)	3 Months Ended
	Jan. 31, 2017
Notes Tables
Equity Method Investments [Table Text Block]	(Dollars in thousands) January 31, 2017 Homebuilding Land Development Total Assets: Cash and cash equivalents $39,100 $446 $39,546 Inventories 594,106 11,199 605,305 Other assets 29,202 - 29,202 Total assets $662,408 $11,645 $674,053 Liabilities and equity: Accounts payable and accrued liabilities $84,920 $943 $85,863 Notes payable 265,561 2,159 267,720 Total liabilities 350,481 3,102 353,583 Equity of: Hovnanian Enterprises, Inc. 97,074 3,330 100,404 Others 214,853 5,213 220,066 Total equity 311,927 8,543 320,470 Total liabilities and equity $662,408 $11,645 $674,053 Debt to capitalization ratio 46 % 20 % 46 % (Dollars in thousands) October 31, 2016 Homebuilding Land Development Total Assets: Cash and cash equivalents $48,542 $1,478 $50,020 Inventories 516,947 11,010 527,957 Other assets 25,865 - 25,865 Total assets $591,354 $12,488 $603,842 Liabilities and equity: Accounts payable and accrued liabilities $72,302 $1,812 $74,114 Notes payable 214,911 2,261 217,172 Total liabilities 287,213 4,073 291,286 Equity of: Hovnanian Enterprises, Inc. 88,379 3,220 91,599 Others 215,762 5,195 220,957 Total equity 304,141 8,415 312,556 Total liabilities and equity $591,354 $12,488 $603,842 Debt to capitalization ratio 41 % 21 % 41 % For the Three Months Ended January 31, 2017 (In thousands) Homebuilding Land Development Total Revenues $64,937 $1,202 $66,139 Cost of sales and expenses (67,226 ) (982 ) (68,208 ) Joint venture net (loss) income $(2,289 ) $220 $(2,069 ) Our share of net (loss) income $(1,681 ) $110 $(1,571 ) 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 )

Note 19 - Fair Value of Finan35

Note 19 - Fair Value of Financial Instruments (Tables)	3 Months Ended
Note 19 - Fair Value of Financial Instruments (Tables)	Jan. 31, 2017
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	(In thousands) Fair Value Hierarchy Fair Value at January 31, 2017 Fair Value at October 31, 2016 Mortgage loans held for sale (1) Level 2 $82,486 $165,077 Interest rate lock commitments Level 2 (10 ) (80 ) Forward contracts Level 2 117 86 Total $82,593 $165,083
Fair Value, Option, Quantitative Disclosures [Table Text Block]	Three Months Ended January 31, 2017 (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 $(3,024 ) $70 $31 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 )
Fair Value Measurements, Nonrecurring [Table Text Block]	Three Months Ended January 31, 2017 (In thousands) Fair Value Hierarchy Pre- Impairment Amount Total Losses Fair Value Sold and unsold homes and lots under development Level 3 $6,302 $(2,587 ) $3,715 Land and land options held for future development or sale Level 3 $6,326 $(81 ) $6,245 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

Note 20 - Financial Informati36

Note 20 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors (Tables)	3 Months Ended
	Jan. 31, 2017
Notes Tables
Condensed Balance Sheet [Table Text Block]	Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated ASSETS: Homebuilding $- $147,033 $1,216,610 $385,082 $- $1,748,725 Financial services 19,392 93,857 113,249 Income taxes receivable 130,251 (51,663 ) 204,702 32 283,322 Intercompany receivable 1,312,141 7,353 (1,319,494 ) - Investments in and amounts due from consolidated subsidiaries 357,276 (357,276 ) - Total assets $130,251 $1,407,511 $1,797,980 $486,324 $(1,676,770 ) $2,145,296 LIABILITIES AND EQUITY: Homebuilding, excluding Notes payable and term loan and Revolving credit facility $2,179 $545 $502,953 $61,856 $- $567,533 Financial services 19,197 67,173 86,370 Notes payable and term loan and Revolving credit facility 1,616,009 3,648 16 1,619,673 Intercompany payable 157,245 1,162,249 (1,319,494 ) - Amounts due to consolidated subsidiaries 99,107 9,089 (108,196 ) - Stockholders’ (deficit) equity (128,280 ) (218,132 ) 109,933 357,279 (249,080 ) (128,280 ) Total liabilities and equity $130,251 $1,407,511 $1,797,980 $486,324 $(1,676,770 ) $2,145,296 Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated ASSETS: Homebuilding $- $271,216 $1,194,267 $408,610 $ - $1,874,093 Financial services 13,453 183,777 197,230 Income taxes receivable 115,940 (58,597 ) 226,258 32 283,633 Intercompany receivable 1,227,334 88,112 (1,315,446 ) - Investments in and amounts due from consolidated subsidiaries 4,914 437,628 (442,542 ) - Total assets $115,940 $1,444,867 $1,871,606 $680,531 $(1,757,988 ) $2,354,956 LIABILITIES AND EQUITY: Homebuilding $3,506 $1,118 $565,163 $83,476 $- $653,263 Financial services 13,338 159,107 172,445 Notes payable and term loan and Revolving credit facility 1,652,357 5,084 317 1,657,758 Intercompany payable 157,993 1,157,453 (1,315,446 ) - Amounts due to consolidated subsidiaries 82,951 (82,951 ) - Stockholders’ (deficit) equity (128,510 ) (208,608 ) 130,568 437,631 (359,591 ) (128,510 ) Total liabilities and equity $115,940 $1,444,867 $1,871,606 $680,531 $(1,757,988 ) $2,354,956
Condensed Income Statement [Table Text Block]	Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated Revenues: Homebuilding $- $- $455,372 $83,788 $- $539,160 Financial services 2,498 10,351 12,849 Intercompany charges 22,940 (22,940 ) - Total revenues - 22,940 457,870 94,139 (22,940 ) 552,009 Expenses: Homebuilding 528 33,042 444,593 72,648 550,811 Financial services 1,713 5,142 6,855 Intercompany charges 22,940 (22,940 ) - Total expenses 528 33,042 469,246 77,790 (22,940 ) 557,666 Gain on extinguishment of debt 7,646 7,646 Income (loss) from unconsolidated joint ventures 16 (1,682 ) (1,666 ) (Loss) income before income taxes (528 ) (2,456 ) (11,360 ) 14,667 - 323 State and federal income tax (benefit) provision (16,541 ) (6,935 ) 23,942 466 Equity in (loss) income of consolidated subsidiaries (16,156 ) (14,003 ) 14,667 15,492 - Net (loss) income $(143 ) $(9,524 ) $(20,635 ) $14,667 $15,492 $(143 ) 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 Income (loss) 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 (benefit) provision (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 Cash Flow Statement [Table Text Block]	Parent Subsidiary Issuer Guarantor Subsidiaries Nonguarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: Net (loss) income $(143 ) $(9,524 ) $(20,635 ) $14,667 $15,492 $(143 ) Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities (15,265 ) (10,126 ) 66,555 387 (15,492 ) 26,059 Net cash (used in) provided by operating activities (15,408 ) (19,650 ) 45,920 15,054 - 25,916 Cash flows from investing activities: Proceeds from sale of property and assets 60 60 Purchase of property, equipment & other fixed assets and acquisitions (560 ) (560 ) Increase in restricted cash related to mortgage company (2,324 ) (2,324 ) Decrease in restricted cash related to letters of credit (1 ) (1 ) Investments in and advances to unconsolidated joint ventures (93 ) (94 ) (14,452 ) (14,639 ) Distributions of capital from unconsolidated joint ventures 231 1,708 1,939 Intercompany investing activities (70,802 ) 70,802 - Net cash (used in) provided by investing activities - (70,896 ) (363 ) (15,068 ) 70,802 (15,525 ) Cash flows from financing activities: Net payments from mortgages and notes 2,154 (11,065 ) (8,911 ) Net proceeds from model sale leaseback financing programs (2,205 ) (1,316 ) (3,521 ) Net proceeds from land bank financing programs (18,371 ) (4,491 ) (22,862 ) Payments related to senior notes and senior amortizing notes (33,086 ) (33,086 ) Net proceeds related to mortgage warehouse lines of credit (86,058 ) (86,058 ) Deferred financing cost from land bank financing program and note issuances (528 ) (397 ) (13 ) (938 ) Intercompany financing activities 15,408 (25,365 ) 80,759 (70,802 ) - Net cash provided by (used in) financing activities 15,408 (33,614 ) (44,184 ) (22,184 ) (70,802 ) (155,376 ) Net decrease in cash and cash equivalents - (124,160 ) 1,373 (22,198 ) - (144,985 ) Cash and cash equivalents balance, beginning of period 261,553 (395 ) 85,607 346,765 Cash and cash equivalents balance, end of period $- $137,393 $978 $63,409 $- $201,780 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 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 mortgage company 52 52 Investments in and advances to unconsolidated joint ventures (130 ) (865 ) (10,502 ) (11,497 ) Distribution of capital from unconsolidated joint ventures 80 2,052 2,132 Intercompany investing activities 117,284 (117,284 ) - Net cash used in investing activities - 117,206 (1,936 ) (8,540 ) (117,284 ) (10,554 ) Cash flows from financing activities: Net proceeds 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 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

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation (Details Textual) $ in Millions	3 Months Ended
	Jan. 31, 2017USD ($)
Reclassification of Unamortized Debt Issuance Costs from Prepaid Expenses and Other Assets to Nonrecourse Mortgages Secured by Inventory, Liabilities from Inventory not Owned and Notes Payable and Term Loan [Member] \| October 31, 2016 [Member]
Prior Period Reclassification Adjustment	$ 24.5
Reclassification of Unamortized Debt Issuance Costs from Prepaid Expenses and Other Assets to Nonrecourse Mortgages Secured by Inventory [Member] \| October 31, 2016 [Member]
Prior Period Reclassification Adjustment	1.3
Reclassification of Unamortized Debt Issuance Costs from Prepaid Expenses and Other Assets to Liabilities from Inventory not Owned [Member] \| October 31, 2016 [Member]
Prior Period Reclassification Adjustment	3
Reclassification of Unamortized Debt Issuance Costs from Prepaid Expenses and Other Assets to Notes Payable and Term Loan [Member] \| October 31, 2016 [Member]
Prior Period Reclassification Adjustment	$ 20.2
Homebuilding [Member]
Number of Reportable Segments	6

Note 2 - Stock Compensation (De

Note 2 - Stock Compensation (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Allocated Share-based Compensation Expense, Net of Tax	$ 0.5	$ 1.5
Employee Stock Option [Member]
Allocated Share-based Compensation Expense	$ 0.1	$ 0.1

Note 3 - Interest - Interest Co

Note 3 - Interest - Interest Costs Incurred, Expensed and Capitalized (Details) - USD ($) $ in Thousands		3 Months Ended
		Jan. 31, 2017	Jan. 31, 2016
Interest capitalized at beginning of period		$ 96,688	$ 123,898
Plus interest incurred	[1]	38,699	41,959
Less cost of sales interest expensed		18,322	16,843
Less other interest expensed	[2],[3]	22,627	21,225
Less interest transferred to unconsolidated joint venture	[4]		10,676
Interest capitalized at end of period	[5]	$ 94,438	$ 117,113

[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 transfered to the joint venture the Company entered into in November 2015, as discussed in Note 17. 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 - Cash Paid f

Note 3 - Interest - Cash Paid for Interest, Net of Capitalized Interest (Details) - USD ($) $ in Thousands		3 Months Ended
		Jan. 31, 2017	Jan. 31, 2016
Less other interest expensed	[1],[2]	$ 22,627	$ 21,225
Interest paid by our mortgage and finance subsidiaries		629	559
Decrease in accrued interest		763	11,216
Cash paid for interest, net of capitalized interest		$ 24,019	$ 33,000

[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 Invento41

Note 4 - Reduction of Inventory to Fair Value (Details Textual)	3 Months Ended
	Jan. 31, 2017USD ($)	Jan. 31, 2016USD ($)	Oct. 31, 2016USD ($)
Number of Communities Evaluated for Impairment	390	512
Number of Communities Performed Detailed Impairment Calculations	6	11
Carrying Value of Communities Tested for Impairment	$ 13,800,000	$ 46,200,000
Number of Communities Tested for Impairment for Which Undiscounted Future Cash Flow Only Exceeded Carrying Amount By Less Than 20 Percent	1	4
Carrying Value of Communities Tested for Impairment for Which Undiscounted Future Cash Flow Only Exceeded Carrying Amount by Less than 20 Percent	$ 1,200,000	$ 17,300,000
Percentage Undiscounted Cash Flow Exceeds Carrying Amount	20.00%
Impairment of Real Estate	$ 2,700,000	$ 9,700,000
Homebuilding [Member]
Number of Communities Impaired	5	6
Impairment of Real Estate	$ 2,700,000	$ 9,700,000
PreImpairment Value	12,600,000	28,700,000
Land Option Write Offs	$ 500,000	$ 2,000,000
Number of Walk Away Lots	1,061	1,256
Number of Previously Mothballed Communities Sold During the Period	1
Number of Communities Mothballed	28	29
Inventory Real Estate Mothballed Communities	$ 69,300,000	$ 74,400,000
Inventory Real Estate Mothballed Communities Accumulated Impairment Charges	268,000,000	$ 296,300,000
Liabilities from Inventory Real Estate Not Owned	$ 124,394,000		$ 150,179,000	[1]
Number of Communities Mothballed During the Period	0
Number of Mothballed Communities Reactivated	0
Inventory Real Estate Specific Performance Options	$ 0		0
Homebuilding [Member] \| Model Sale Leaseback Financing Arrangements [Member]
Inventory Real Estate, Other Options	75,500,000		79,200,000
Liabilities from Inventory Real Estate Not Owned	66,300,000		69,700,000
Homebuilding [Member] \| Land Banking Arrangement [Member]
Inventory Real Estate, Other Options	96,100,000		129,500,000
Liabilities from Inventory Real Estate Not Owned	$ 58,100,000		$ 80,500,000
Homebuilding [Member] \| Real Estate Inventory [Member]
Fair Value Inputs, Discount Rate		0.00%
Number of Communities Impaired		6
Homebuilding [Member] \| Real Estate Inventory [Member] \| Minimum [Member]
Fair Value Inputs, Discount Rate	18.30%
Homebuilding [Member] \| Real Estate Inventory [Member] \| Maximum [Member]
Fair Value Inputs, Discount Rate	19.80%

[1]	Derived from the audited balance sheet as of October 31, 2016.

Note 5 - Variable Interest En42

Note 5 - Variable Interest Entities (Details Textual) $ in Millions	Jan. 31, 2017USD ($)
Deposits Associated with Land and Lot Options of Unconsolidated Variable Interest Entities	$ 52.5
Purchase Price Associated with Land and Lot Options of Unconsolidated Variable Interest Entities	$ 914.1

Note 6 - Warranty Costs (Detail

Note 6 - Warranty Costs (Details Textual) $ in Thousands	3 Months Ended
Note 6 - Warranty Costs (Details Textual) $ in Thousands	Jan. 31, 2017USD ($)	Jan. 31, 2016USD ($)	Oct. 31, 2016USD ($)
Cash Received from Subcontractors for Owner Controlled Insurance Program	$ 900	$ 1,000
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	$ 100	$ 3,200
Homebuilding [Member] \| Northeast [Member]
Number of Construction Defect Claims Settled During the Period		2

Note 6 - Warranty Costs - Warra

Note 6 - Warranty Costs - Warranty and General Liability Reserve (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Balance, beginning of period	$ 121,144	$ 135,053
Charges incurred during the period	(9,526)	(9,669)
Changes to pre-existing reserves
Balance, end of period	118,013	133,389
Selling, General and Administrative Expenses [Member]
Additions	2,908	4,623
Cost of Sales [Member]
Additions	$ 3,487	$ 3,382

Note 8 - Restricted Cash and 45

Note 8 - Restricted Cash and Deposits (Details Textual) - USD ($) $ in Thousands	Jan. 31, 2017	Oct. 31, 2016
Cash Equivalents, at Carrying Value	$ 6,900	$ 9,400
Restricted Cash and Cash Equivalents	24,200	22,900
Homebuilding [Member]
Restricted Cash and Cash Equivalents	1,786	3,914	[1]
Customer Deposits [Member] \| Homebuilding [Member]
Restricted Cash and Cash Equivalents	100	2,200
Customer Deposits [Member] \| Financial Services [Member]
Restricted Cash and Cash Equivalents	20,400	15,100
Mortgage Warehouse Lines of Credit [Member]
Restricted Cash and Cash Equivalents	$ 2,000	$ 3,900

[1]	Derived from the audited balance sheet as of October 31, 2016.

Note 9 - Mortgage Loans Held 46

Note 9 - Mortgage Loans Held for Sale (Details Textual) $ in Millions	Jan. 31, 2017USD ($)	Oct. 31, 2016USD ($)	Jan. 31, 2016
Loans Pledged as Collateral	$ 65.2	$ 147.4
Number of Loans Reserved For	93		131

Note 9 - Mortgage Loans Held 47

Note 9 - Mortgage Loans Held for Sale - Loan Origination Reserves (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Loan origination reserves, beginning of period	$ 8,137	$ 8,025
Provisions for losses during the period	34	41
Adjustments to pre-existing provisions for losses from changes in estimates	(3,094)	(38)
Loan origination reserves, end of period	$ 5,077	$ 8,028

Note 10 - Mortgages and Notes48

Note 10 - Mortgages and Notes Payable (Details Textual) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Jun. 30, 2013	Jan. 31, 2017	Oct. 31, 2016
Letter of Credit [Member]
Letters of Credit Outstanding, Amount		$ 1,700	$ 1,700
Citi Bank [Member] \| Revolving Credit Facility [Member]
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		$ 52,000	52,000
Letters of Credit Outstanding, Amount		16,000	17,900
JP Morgan Chase Bank [Member]
Line of Credit Facility, Maximum Borrowing Capacity		50,000
Warehouse Agreement Borrowings		$ 25,700	44,100
JP Morgan Chase Bank [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument Variable Rate Basis Adjusted London Interbank Offered Rate LIBOR		0.78%
JP Morgan Chase Bank [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		2.50%
JP Morgan Chase Bank [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate		2.63%
Customers Bank [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 50,000
Warehouse Agreement Borrowings		$ 19,100	38,800
Customers Bank [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		2.50%
Customers Bank [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate		5.25%
Homebuilding [Member]
Long-term Line of Credit		$ 52,000	52,000	[1]
Nonrecourse Mortgages Secured By Inventory [Member] \| Mortgages [Member] \| Homebuilding [Member]
Secured Debt		73,528	82,115
Debt Instrument, Collateral Amount		$ 195,800	$ 201,800
Debt, Weighted Average Interest Rate		5.10%	4.90%
Nonrecourse Mortgages Secured by Operating Properties [Member] \| Mortgages [Member] \| Corporate, Non-Segment [Member]
Secured Debt		$ 14,000	$ 14,300
Debt, Weighted Average Interest Rate		8.80%	8.80%
Long-term Debt, Maturities, Repayments of Principal, Remainder of Fiscal Year		$ 1,000
Long-term Debt, Maturities, Repayments of Principal in Year Two		1,400
Long-term Debt, Maturities, Repayments of Principal in Year Three		1,500
Long-term Debt, Maturities, Repayments of Principal in Year Four		1,700
Long-term Debt, Maturities, Repayments of Principal in Year Five		1,800
Long-term Debt, Maturities, Repayments of Principal after Year Five		6,600
Nonrecourse Mortgages Secured by Operating Properties [Member] \| Mortgages [Member] \| Homebuilding [Member]
Secured Debt		$ 13,997	$ 14,312	[1]
8.0% Senior Notes Due 2019 [Member]
Debt Instrument, Interest Rate, Stated Percentage		8.00%
The 7.25% 2020 Notes and 9.125% 2020 Notes [Member] \| Senior Secured Notes [Member] \| Letter of Credit [Member] \| Restricted Cash [Member]
Cash Collateral for Borrowed Securities		$ 1,700	1,700
Credit Suisse Master Repurchase Agreement [Member]
Line of Credit Facility, Maximum Borrowing Capacity		50,000
Warehouse Agreement Borrowings		$ 0	32,900
Debt Instrument Variable Rate Basis Effective Rate		1.37%
Credit Suisse Master Repurchase Agreement [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		2.25%
Credit Suisse Master Repurchase Agreement [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate		2.50%
Comerica Master Repurchase Agreement [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 50,000
Warehouse Agreement Borrowings		$ 14,700	$ 29,800
Comerica Master Repurchase Agreement [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		2.50%
Debt Instrument Variable Rate Basis Floor Rate		0.25%

[1]	Derived from the audited balance sheet as of October 31, 2016.

Note 11 - Senior Notes and Te49

Note 11 - Senior Notes and Term Loan (Details Textual)

Nov. 05, 2014

Jan. 10, 2014

Jun. 01, 2013USD ($)

Oct. 02, 2012USD ($)$ / sharesshares

Nov. 01, 2011

Nov. 30, 2016USD ($)shares

Sep. 30, 2016USD ($)shares

Jan. 31, 2017USD ($)shares

Jan. 31, 2016USD ($)

Oct. 31, 2016USD ($)

Sep. 08, 2016USD ($)

Interest Payable

$ 31,700,000

$ 32,400,000

Debt Issuance Costs, Net

$ 18,600,000

Debt Covenant Fixed Charge Coverage Ratio Minimum

Gain (Loss) on Extinguishment of Debt

$ 7,646,000

Series A Preferred Stock [Member]

Preferred Stock, Dividend Rate, Percentage

7.625%

Senior Notes and Senior Exchangeable Note Units [Member]

Debt Instrument, Repurchase Amount

$ 30,800,000

Gain (Loss) on Extinguishment of Debt

$ 7,800,000

Senior Secured Term Loan [Member]

Debt Instrument, Voluntary Prepayment Premium, Aggregate Principal Amount, Percentage

1.00%

Senior Secured Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]

Debt Instrument, Basis Spread on Variable Rate

7.00%

Senior Secured Term Loan [Member] | Base Rate [Member]

Debt Instrument, Basis Spread on Variable Rate

6.00%

First Lien Noes [Member] | Debt Instrument, Redemption, Period One [Member]

Debt Instrument, Redemption Price, Percentage

103.625%

First Lien Noes [Member] | Debt Instrument, Redemption, Period Two [Member]

Debt Instrument, Redemption Price, Percentage

101.813%

First Lien Noes [Member] | Debt Instrument, Redemption, Period Three [Member]

Debt Instrument, Redemption Price, Percentage

100.00%

Second Lien Notes [Member] | Debt Instrument, Redemption, Period One [Member]

Debt Instrument, Redemption Price, Percentage

104.563%

Second Lien Notes [Member] | Debt Instrument, Redemption, Period Two [Member]

Debt Instrument, Redemption Price, Percentage

102.281%

Second Lien Notes [Member] | Debt Instrument, Redemption, Period Three [Member]

Debt Instrument, Redemption Price, Percentage

100.00%

Senior Amortizing Notes [Member]

Debt Instrument, Periodic Payment, Interest

$ 39.83

$ 30

The 5.0% 2021 Notes [Member] | Senior Secured Notes [Member]

Debt Instrument, Interest Rate, Stated Percentage

5.00%

[1],[2]

5.00%

[1],[2]

The 2.0% 2021 Notes [Member] | Senior Secured Notes [Member]

Debt Instrument, Interest Rate, Stated Percentage

2.00%

[1],[2]

2.00%

[1],[2]

Debt Instrument, Redemption Price, Percentage

100.00%

The 9.50% 2020 Notes [Member] | Senior Secured Notes [Member]

Debt Instrument, Interest Rate, Stated Percentage

[1],[2]

9.50%

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

Debt Instrument, Interest Rate, Stated Percentage

7.00%

Debt Instrument, Repurchased Face Amount

$ 17,500,000

The 7.0% 2019 Notes [Member] | Senior Notes [Member] | Debt Instrument, Redemption, Period One [Member]

Debt Instrument, Redemption Price, Percentage

100.00%

The 7.0% 2019 Notes [Member] | Senior Notes [Member] | Debt Instrument, Redemption, Period Two [Member]

Debt Instrument, Redemption Price, Percentage

103.50%

The 7.0% 2019 Notes [Member] | Senior Notes [Member] | Debt Instrument, Redemption, Period Three [Member]

Debt Instrument, Redemption Price, Percentage

101.75%

The 7.0% 2019 Notes [Member] | Senior Notes [Member] | Debt Instrument, Redemption, Period Four [Member]

Debt Instrument, Redemption Price, Percentage

100.00%

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

Debt Instrument, Interest Rate, Stated Percentage

[1],[2]

7.00%

8.0% Senior Notes Due 2019 [Member]

Debt Instrument, Interest Rate, Stated Percentage

8.00%

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

Debt Instrument, Interest Rate, Stated Percentage

8.00%

Debt Instrument, Repurchased Face Amount

$ 14,000,000

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] | Debt Instrument, Redemption, Period One [Member]

Debt Instrument, Redemption Price, Percentage

100.00%

The 6.00% Exchangeable Note Units [Member] | Exchangeable Note Units [Member]

Debt Instrument, Interest Rate, Stated Percentage

6.00%

Debt Instrument, Repurchased Face Amount

$ 6,900,000

Debt Instrument, Exchangeable, Number of Units Repurchased | shares

6,925

20,823

6,925

Debt Instrument, Face Amount

$ 100,000,000

Note Units Number

100,000

Note Units Stated Amount

$ 1,000

Note Units Initial Principal Amount Exchangeable Note | $ / shares

$ 768.51

Note Units Principal Amount at Maturity | $ / shares

1,000

Note Units Initial Principal Amount Senior Amortizing Note | $ / shares

$ 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 | $ / shares

$ 5.39

Senior Exchangeable Notes Exchanged for Class A Common Stock | shares

18,305

Debt Conversion, Converted Instrument, Shares Issued | shares

3,400,000

Exchangeable Note Unit Face Amount

$ 6,900,000

$ 20,600,000

Term Loan [Member]

Debt Instrument, Face Amount

$ 75,000,000

The 10.0% 2018 Notes [Member] | Senior Secured Notes [Member]

Debt Instrument, Interest Rate, Stated Percentage

[1],[2]

10.00%

The 10.0% 2018 Notes [Member] | Senior Secured Notes [Member] | Debt Instrument, Redemption, Period One [Member]

Debt Instrument, Redemption Price, Percentage

100.00%

The 10.0% 2018 Notes [Member] | Senior Secured Notes [Member] | Debt Instrument, Redemption, Period One [Member] | Redemption with Net Cash Proceeds from Certain Equity Offerings [Member]

Debt Instrument, Redemption Price, Percentage

110.00%

Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed

35.00%

The 10.0% 2018 Notes [Member] | Senior Secured Notes [Member] | Debt Instrument, Redemption, Period Two [Member]

Debt Instrument, Redemption Price, Percentage

100.00%

9.5% Senior Secured Notes Due 2020 [Member] | Redemption with Net Cash Proceeds from Certain Equity Offerings [Member]

Debt Instrument, Redemption Price, Percentage

109.50%

9.5% Senior Secured Notes Due 2020 [Member] | Debt Instrument, Redemption, Period One [Member]

Debt Instrument, Redemption Price, Percentage

100.00%

9.5% Senior Secured Notes Due 2020 [Member] | Debt Instrument, Redemption, Period Two [Member]

Debt Instrument, Redemption Price, Percentage

100.00%

9.5% Senior Secured Notes Due 2020 [Member] | Debt Instrument, Redemption, Period Three [Member]

Debt Instrument, Redemption Price, Percentage

35.00%

Additional and Market Whole Amount [Member]

Debt Instrument, Redemption Price, Percentage

1.00%

The 2.0% 2021 Notes Member and 5.0% 2021 Notes [Member] | Senior Secured Notes [Member] | Secured Group [Member] | Investment in Joint Ventures [Member]

Debt Instrument, Collateral Amount

$ 97,100,000

The 2.0% 2021 Notes Member and 5.0% 2021 Notes [Member] | Senior Secured Notes [Member] | Cash and Cash Equivalents Collateral [Member]

Debt Instrument, Collateral Amount

57,400,000

The 2.0% 2021 Notes Member and 5.0% 2021 Notes [Member] | Senior Secured Notes [Member] | Real Estate [Member]

Debt Instrument, Collateral Amount

$ 140,000,000

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

Debt Instrument, Interest Rate, Stated Percentage

7.25%

[1],[2]

7.25%

[1],[2]

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

Debt Instrument, Interest Rate, Stated Percentage

9.125%

[1],[2]

9.125%

[1],[2]

The 7.25% 2020 Notes, The 9.125% 2020 Notes, and The 10.0% 2018 Notes [Member] | Senior Secured Notes [Member] | Cash and Cash Equivalents Collateral [Member]

Debt Instrument, Collateral Amount

$ 140,100,000

The 7.25% 2020 Notes, The 9.125% 2020 Notes, and The 10.0% 2018 Notes [Member] | Senior Secured Notes [Member] | Real Estate Inventory [Member]

Debt Instrument, Collateral Amount

587,800,000

The 7.25% 2020 Notes, The 9.125% 2020 Notes, and The 10.0% 2018 Notes [Member] | Senior Secured Notes [Member] | Restricted Cash [Member]

Debt Instrument, Collateral Amount

$ 1,700,000

The 11.0% 2017 Amortizing Note [Member] | Senior Amortizing Notes [Member]

Debt Instrument, Interest Rate, Stated Percentage

11.00%

[1],[2]

11.00%

[1],[2]

Reclassification of Unamortized Debt Issuance Costs from Prepaid Expenses and Other Assets to Notes Payable and Term Loan [Member] | October 31, 2016 [Member]

Prior Period Reclassification Adjustment

$ 20,200,000

[1]

"Notes payable and term loan" on our Condensed Consolidated Balance Sheets as of January 31, 2017 and October 31, 2016 consists of the total senior secured, senior, senior amortizing and senior exchangeable notes and senior secured term loan shown above, as well as accrued interest of $31.7 million and $32.4 million, respectively.

[2]

As discussed in Note 1, we adopted ASU 2015-03 in January 2017. We applied the new guidance retrospectively to all prior periods presented in the financial statements to conform to the fiscal 2017 presentation. As a result, $20.2 million of debt issuance costs at October 31, 2016, were reclassified from prepaids and other assets to a reduction in our senior secured term loan, senior secured, senior, senior amortizing and senior exchangeable notes. Debt issuance costs at January 31, 2017 were $18.6 million.

Note 11 - Senior Notes and Te50

Note 11 - Senior Notes and Term Loan - Senior Secured, Senior and Senior Subordinated Notes (Details) - USD ($) $ in Thousands		Jan. 31, 2017	Oct. 31, 2016
Senior Secured Term Loan [Member]
Senior Notes	[1],[2]	$ 72,623	$ 72,646
Senior Secured Notes [Member]
Senior Notes	[1],[2]	1,042,560	1,041,089
Senior Secured Notes [Member] \| The 7.25% 2020 Notes [Member]
Senior Notes	[1],[2]	570,101	569,641
Senior Secured Notes [Member] \| The 10.0% 2018 Notes [Member]
Senior Notes	[1],[2]	69,372	68,951
Senior Secured Notes [Member] \| The 9.125% 2020 Notes [Member]
Senior Notes	[1],[2]	143,439	143,337
Senior Secured Notes [Member] \| The 9.50% 2020 Notes [Member]
Senior Notes	[1],[2]	74,192	74,140
Senior Secured Notes [Member] \| The 2.0% 2021 Notes [Member]
Senior Notes	[1],[2]	53,031	53,022
Senior Secured Notes [Member] \| The 5.0% 2021 Notes [Member]
Senior Notes	[1],[2]	132,425	131,998
Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member]
Senior Notes	[1],[2]	365,270	396,148
Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member] \| The 7.0% 2019 Notes [Member]
Senior Notes	[1],[2]	131,603	148,800
Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member] \| The 8.0% Senior Notes Due 2019 [Member]
Senior Notes	[1],[2]	233,667	247,348
Senior Amortizing Notes [Member] \| The 11.0% 2017 Amortizing Note [Member]
Senior Notes	[1],[2]	3,911	6,152
Senior Amortizing Notes [Member] \| Senior Exchangeable Notes Due 2017 [Member]
Senior Notes	[1],[2]	$ 51,647	$ 57,298

[1]	"Notes payable and term loan" on our Condensed Consolidated Balance Sheets as of January 31, 2017 and October 31, 2016 consists of the total senior secured, senior, senior amortizing and senior exchangeable notes and senior secured term loan shown above, as well as accrued interest of $31.7 million and $32.4 million, respectively.
[2]	As discussed in Note 1, we adopted ASU 2015-03 in January 2017. We applied the new guidance retrospectively to all prior periods presented in the financial statements to conform to the fiscal 2017 presentation. As a result, $20.2 million of debt issuance costs at October 31, 2016, were reclassified from prepaids and other assets to a reduction in our senior secured term loan, senior secured, senior, senior amortizing and senior exchangeable notes. Debt issuance costs at January 31, 2017 were $18.6 million.

Note 11 - Senior Notes and Te51

Note 11 - Senior Notes and Term Loan - Senior Secured, Senior and Senior Subordinated Notes (Details) (Parentheticals)		3 Months Ended		12 Months Ended
		Jan. 31, 2017		Oct. 31, 2016		Oct. 02, 2012	Nov. 01, 2011
Senior Secured Notes [Member] \| The 7.25% 2020 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage		7.25%	[1],[2]	7.25%	[1],[2]	7.25%
Debt Instrument, Maturity Date	[1],[2]	Oct. 15, 2020		Oct. 15, 2020
Senior Secured Notes [Member] \| The 10.0% 2018 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	[1],[2]	10.00%		10.00%
Debt Instrument, Maturity Date	[1],[2]	Oct. 15, 2018		Oct. 15, 2018
Senior Secured Notes [Member] \| The 9.125% 2020 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage		9.125%	[1],[2]	9.125%	[1],[2]	9.125%
Debt Instrument, Maturity Date	[1],[2]	Nov. 15, 2020		Nov. 15, 2020
Senior Secured Notes [Member] \| The 9.50% 2020 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	[1],[2]	9.50%		9.50%
Debt Instrument, Maturity Date	[1],[2]	Nov. 15, 2020		Nov. 15, 2020
Senior Secured Notes [Member] \| The 2.0% 2021 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage		2.00%	[1],[2]	2.00%	[1],[2]		2.00%
Debt Instrument, Maturity Date	[1],[2]	Nov. 1, 2021		Nov. 1, 2021
Senior Secured Notes [Member] \| The 5.0% 2021 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage		5.00%	[1],[2]	5.00%	[1],[2]		5.00%
Debt Instrument, Maturity Date	[1],[2]	Nov. 1, 2021		Nov. 1, 2021
Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member] \| The 7.0% 2019 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	[1],[2]	7.00%		7.00%
Debt Instrument, Maturity Date	[1],[2]	Jan. 15, 2019		Jan. 15, 2019
Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member] \| The 8.0% Senior Notes Due 2019 [Member]
Debt Instrument, Interest Rate, Stated Percentage	[1],[2]	8.00%		8.00%
Debt Instrument, Maturity Date	[1],[2]	Nov. 1, 2019		Nov. 1, 2019
Senior Amortizing Notes [Member] \| The 11.0% 2017 Amortizing Note [Member]
Debt Instrument, Interest Rate, Stated Percentage		11.00%	[1],[2]	11.00%	[1],[2]	11.00%
Debt Instrument, Maturity Date	[1],[2]	Dec. 1, 2017		Dec. 1, 2017
Senior Amortizing Notes [Member] \| Senior Exchangeable Notes Due 2017 [Member]
Debt Instrument, Maturity Date	[1],[2]	Dec. 1, 2017		Dec. 1, 2017

[1]	"Notes payable and term loan" on our Condensed Consolidated Balance Sheets as of January 31, 2017 and October 31, 2016 consists of the total senior secured, senior, senior amortizing and senior exchangeable notes and senior secured term loan shown above, as well as accrued interest of $31.7 million and $32.4 million, respectively.
[2]	As discussed in Note 1, we adopted ASU 2015-03 in January 2017. We applied the new guidance retrospectively to all prior periods presented in the financial statements to conform to the fiscal 2017 presentation. As a result, $20.2 million of debt issuance costs at October 31, 2016, were reclassified from prepaids and other assets to a reduction in our senior secured term loan, senior secured, senior, senior amortizing and senior exchangeable notes. Debt issuance costs at January 31, 2017 were $18.6 million.

Note 12 - Per Share Calculati52

Note 12 - Per Share Calculation (Details Textual) - shares shares in Thousands	3 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Exchangeable Note Unit Rate Stated Percentage	6.00%
Convertible Debt Securities [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	10,000	15,200
Out of the Money Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,800	6,400
Non Vested Stock and Outstanding Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0

Note 13 - Preferred Stock (Deta

Note 13 - Preferred Stock (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Jul. 12, 2005	Jan. 31, 2017	Jan. 31, 2016	Oct. 31, 2016	[1]
Preferred Stock, Shares Issued		5,600		5,600
Preferred Class A [Member]
Preferred Stock, Shares Issued	5,600
Preferred Stock, Dividend Rate, Percentage	7.625%
Preferred Stock, Liquidation Preference Per Share	$ 25,000
Preferred Stock, Depositary Shares, Number of Shares of Preferred Stock in Each Depositary Share	0.001
Payments of Dividends		$ 0	$ 0

[1]	Derived from the audited balance sheet as of October 31, 2016.

Note 14 - Common Stock (Details

Note 14 - Common Stock (Details Textual) shares in Thousands	3 Months Ended
	Jan. 31, 2017shares	Dec. 05, 2008	Aug. 15, 2008	Aug. 04, 2008	Jul. 03, 2001shares
Common Stock Dividends Percent of Increase from Class A to Class B	110.00%
Conversion of Stock From Class B to Class A Conversion Ratio	1
Shareholder Ownership Percentage of Increase				50.00%
Minimum [Member]
Shareholder Ownership Percentage				5.00%
Common Class A [Member]
Common Stock Voting Rights Votes per Share Number	1
Shareholder Ownership Percentage			4.90%
Number of Rights			1
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					4,000
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	500
Stock Repurchased During Period, Shares	0
Common Class B [Member]
Common Stock Voting Rights Votes per Share Number	10

Note 15 - Income Taxes (Details

Note 15 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Income Tax Expense (Benefit)	$ 466	$ 2,979
Deferred Tax Assets, Valuation Allowance	$ 628,100

Note 16 - Operating and Repor56

Note 16 - Operating and Reporting Segments (Details Textual) $ in Thousands	3 Months Ended
	Jan. 31, 2017USD ($)	Oct. 31, 2016USD ($)
Deferred Tax Assets, Net of Valuation Allowance	$ 283,322	$ 283,633	[1]
Homebuilding [Member]
Number of Reportable Segments	6
Corporate and Other [Member]
Deferred Tax Assets, Net of Valuation Allowance	$ 283,300	$ 283,600

[1]	Derived from the audited balance sheet as of October 31, 2016.

Note 16 - Operating and Repor57

Note 16 - Operating and Reporting Segments - Financial Information Relating to Segment Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Total revenues	$ 552,009	$ 575,605
(Loss) income before income taxes	323	(13,194)
Corporate, Non-Segment [Member]
Total revenues	133	(20)
(Loss) income before income taxes	(22,046)	(31,569)
Homebuilding [Member] \| Operating Segments [Member]
Total revenues	539,027	557,399
(Loss) income before income taxes	16,375	8,364
Homebuilding [Member] \| Northeast [Member] \| Operating Segments [Member]
Total revenues	58,575	72,504
(Loss) income before income taxes	906	2,734
Homebuilding [Member] \| Mid-Atlantic [Member] \| Operating Segments [Member]
Total revenues	100,226	93,820
(Loss) income before income taxes	3,882	2,622
Homebuilding [Member] \| Midwest [Member] \| Operating Segments [Member]
Total revenues	43,702	91,920
(Loss) income before income taxes	712	(5,559)
Homebuilding [Member] \| Southeast [Member] \| Operating Segments [Member]
Total revenues	56,584	39,252
(Loss) income before income taxes	(294)	(1,834)
Homebuilding [Member] \| Southwest [Member] \| Operating Segments [Member]
Total revenues	183,409	204,325
(Loss) income before income taxes	11,923	16,369
Homebuilding [Member] \| West [Member] \| Operating Segments [Member]
Total revenues	96,531	55,578
(Loss) income before income taxes	(754)	(5,968)
Financial Services [Member] \| Operating Segments [Member]
Total revenues	12,849	18,226
(Loss) income before income taxes	$ 5,994	$ 10,011

Note 16 - Operating and Repor58

Note 16 - Operating and Reporting Segments - Financial Information Relating to Segment Financial Position (Details) - USD ($) $ in Thousands		Jan. 31, 2017	Oct. 31, 2016
Assets		$ 2,145,296	$ 2,354,956	[1]
Corporate, Non-Segment [Member]
Assets	[2]	558,439	696,872
Homebuilding [Member]
Assets		1,748,725	1,874,093	[1]
Homebuilding [Member] \| Operating Segments [Member]
Assets		1,473,608	1,460,854
Homebuilding [Member] \| Northeast [Member] \| Operating Segments [Member]
Assets		211,610	219,363
Homebuilding [Member] \| Mid-Atlantic [Member] \| Operating Segments [Member]
Assets		292,866	292,899
Homebuilding [Member] \| Midwest [Member] \| Operating Segments [Member]
Assets		107,213	111,596
Homebuilding [Member] \| Southeast [Member] \| Operating Segments [Member]
Assets		235,600	226,124
Homebuilding [Member] \| Southwest [Member] \| Operating Segments [Member]
Assets		371,940	341,472
Homebuilding [Member] \| West [Member] \| Operating Segments [Member]
Assets		254,379	269,400
Financial Services [Member]
Assets		113,249	197,230	[1]
Financial Services [Member] \| Operating Segments [Member]
Assets		$ 113,249	$ 197,230

[1]	Derived from the audited balance sheet as of October 31, 2016.
[2]	Includes $283.3 million and $283.6 million of income taxes receivable, including deferred tax assets, as of January 31, 2017 and October 31, 2016, respectively.

Note 17 - Investments in Unco59

Note 17 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures (Details Textual) $ in Thousands	1 Months Ended	3 Months Ended
	Nov. 30, 2015USD ($)	Jan. 31, 2017USD ($)	Jul. 31, 2016USD ($)	Jan. 31, 2016USD ($)	Oct. 31, 2016USD ($)
Proceeds from Contribution of Land to Joint Venture		$ 11,200	$ 29,800
Number of Owned Communities Contributed to the Joint Venture		1	8
Number of Optioned Communities Contributed to the Joint Venture		3	1
Joint Venture Financing Percent of Assets		50.00%
Joint Venture Total Debt to Capitalization Ratio		46.00%
Corporate Joint Venture [Member]
Advances to Affiliate		$ 10,900			$ 8,900
Land Development Venture [Member]
Proceeds from Contribution of Land to Joint Venture	$ 25,700
Homebuilding [Member]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures		111,351			$ 100,502
Management Fees Revenue		$ 2,200		$ 800
Homebuilding [Member] \| Corporate Joint Venture [Member]
Joint Venture Total Debt to Capitalization Ratio		46.00%			41.00%

Note 17 - Investments in Unco60

Note 17 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures - Unconsolidated Homebuilding and Land Development Joint Ventures (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Oct. 31, 2016
Debt to capitalization ratio	46.00%
Our share of net (loss) income	$ (1,666)	$ (1,480)
Homebuilding [Member] \| Corporate Joint Venture [Member]
Cash and cash equivalents	39,546		$ 50,020
Inventories	605,305		527,957
Other assets	29,202		25,865
Total assets	674,053		603,842
Accounts payable and accrued liabilities	85,863		74,114
Notes payable	267,720		217,172
Total liabilities	353,583		291,286
Hovnanian Enterprises, Inc.	100,404		91,599
Others	220,066		220,957
Total equity	320,470		312,556
Total liabilities and equity	$ 674,053		$ 603,842
Debt to capitalization ratio	46.00%		41.00%
Revenues	$ 66,139	21,362
Cost of sales and expenses	(68,208)	(25,402)
Joint venture net (loss) income	(2,069)	(4,040)
Our share of net (loss) income	(1,571)	(1,560)
Homebuilding Venture [Member] \| Homebuilding [Member] \| Corporate Joint Venture [Member]
Cash and cash equivalents	39,100		$ 48,542
Inventories	594,106		516,947
Other assets	29,202		25,865
Total assets	662,408		591,354
Accounts payable and accrued liabilities	84,920		72,302
Notes payable	265,561		214,911
Total liabilities	350,481		287,213
Hovnanian Enterprises, Inc.	97,074		88,379
Others	214,853		215,762
Total equity	311,927		304,141
Total liabilities and equity	$ 662,408		$ 591,354
Debt to capitalization ratio	46.00%		41.00%
Revenues	$ 64,937	20,266
Cost of sales and expenses	(67,226)	(24,179)
Joint venture net (loss) income	(2,289)	(3,913)
Our share of net (loss) income	(1,681)	(1,496)
Land Development Venture [Member] \| Homebuilding [Member] \| Corporate Joint Venture [Member]
Cash and cash equivalents	446		$ 1,478
Inventories	11,199		11,010
Other assets
Total assets	11,645		12,488
Accounts payable and accrued liabilities	943		1,812
Notes payable	2,159		2,261
Total liabilities	3,102		4,073
Hovnanian Enterprises, Inc.	3,330		3,220
Others	5,213		5,195
Total equity	8,543		8,415
Total liabilities and equity	$ 11,645		$ 12,488
Debt to capitalization ratio	20.00%		21.00%
Revenues	$ 1,202	1,096
Cost of sales and expenses	(982)	(1,223)
Joint venture net (loss) income	220	(127)
Our share of net (loss) income	$ 110	$ (64)

Note 19 - Fair Value of Finan61

Note 19 - Fair Value of Financial Instruments (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Oct. 31, 2016
Loans Held for Sale Mortgages Unpaid Principal	$ 72		$ 149.4
Other Commitment	29
Impairment of Real Estate	2.7	$ 9.7
Fair Value, Inputs, Level 2 [Member] \| Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member]
Notes Payable, Fair Value Disclosure	316.3		251.7
Fair Value, Inputs, Level 3 [Member] \| Senior Secured Notes [Member]
Notes Payable, Fair Value Disclosure	953.3		883
Fair Value, Inputs, Level 3 [Member] \| Senior Amortizing Notes [Member]
Notes Payable, Fair Value Disclosure	4		6.3
Fair Value, Inputs, Level 3 [Member] \| Senior Exchangeable Notes [Member]
Notes Payable, Fair Value Disclosure	52.3		$ 55.2
Loan Origination Commitments [Member]
Loan Applications in Process	$ 526.7
Loan Origination Commitments [Member] \| Maximum [Member]
Number of Days in Committment	60 days
Interest Rate Committed Loan Applications [Member]
Interest Rate Committed Loan Applications	$ 63.6

Note 19 - Fair Value of Finan62

Note 19 - Fair Value of Financial Instruments - Financial Instruments Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands		Jan. 31, 2017	Oct. 31, 2016
Total		$ 82,593	$ 165,083
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Mortgage loans held for sale	[1]	82,486	165,077
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member] \| Interest Rate Lock Commitments [Member]
Derivative Fair Value		(10)	(80)
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member] \| Forward Contracts [Member]
Derivative Fair Value		$ 117	$ 86

[1]	The aggregate unpaid principal balance was $72.0 million and $149.4 million at January 31, 2017 and October 31, 2016, respectively.

Note 19 - Fair Value of Finan63

Note 19 - Fair Value of Financial Instruments - Changes in Fair Values Included in Income (Loss) (Details) - Financial Services Revenue Line Item [Member] - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Loans Held for Sale [Member]
Changes in fair value included in net loss all reflected in financial services revenues	$ (3,024)	$ 5,007
Interest Rate Lock Commitments [Member]
Changes in fair value included in net loss all reflected in financial services revenues	70	407
Forward Contracts [Member]
Changes in fair value included in net loss all reflected in financial services revenues	$ 31	$ (1,143)

Note 19 - Fair Value of Finan64

Note 19 - Fair Value of Financial Instruments - Assets Measured at Fair Value on a Nonrecurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Total Losses	$ (2,700)	$ (9,700)
Sold and Unsold Homes and Lots Under Development [Member] \| Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Nonrecurring [Member]
PreImpairment Value	6,302	28,528
Total Losses	(2,587)	(9,669)
Fair Value of Inventory	3,715	18,859
Land and Land Options Held for Future Development or Sale [Member] \| Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Nonrecurring [Member]
PreImpairment Value	6,326	157
Total Losses	(81)	(48)
Fair Value of Inventory	$ 6,245	$ 109

Note 20 - Financial Informati65

Note 20 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors (Details Textual) - USD ($) $ in Millions		3 Months Ended
		Jan. 31, 2017	Oct. 31, 2016
Exchangeable Note Unit Rate Stated Percentage		6.00%
Direct or Indirect Ownership in Guarantor Subsidiaries Percentage		100.00%
Senior Secured Notes [Member] \| The 9.50% 2020 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	[1],[2]	9.50%	9.50%
Senior Secured Notes [Member] \| The 10.0% 2018 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	[1],[2]	10.00%	10.00%
Senior Secured Notes [Member] \| Subsidiary Issuer [Member]
Debt Instrument, Face Amount		$ 1,067
Senior Notes		$ 1,042.6
Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member] \| The 7.0% 2019 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	[1],[2]	7.00%	7.00%
Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member] \| The 8.0% Senior Notes Due 2019 [Member]
Debt Instrument, Interest Rate, Stated Percentage	[1],[2]	8.00%	8.00%
Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member] \| Subsidiary Issuer [Member]
Debt Instrument, Face Amount		$ 368.5
Senior Notes		365.3
Senior Amortizing Notes [Member] \| Subsidiary Issuer [Member]
Debt Instrument, Face Amount		4
Senior Notes		3.9
Senior Exchangeable Notes [Member] \| Subsidiary Issuer [Member]
Debt Instrument, Face Amount		51.9
Senior Notes		$ 51.6

[1]	"Notes payable and term loan" on our Condensed Consolidated Balance Sheets as of January 31, 2017 and October 31, 2016 consists of the total senior secured, senior, senior amortizing and senior exchangeable notes and senior secured term loan shown above, as well as accrued interest of $31.7 million and $32.4 million, respectively.
[2]	As discussed in Note 1, we adopted ASU 2015-03 in January 2017. We applied the new guidance retrospectively to all prior periods presented in the financial statements to conform to the fiscal 2017 presentation. As a result, $20.2 million of debt issuance costs at October 31, 2016, were reclassified from prepaids and other assets to a reduction in our senior secured term loan, senior secured, senior, senior amortizing and senior exchangeable notes. Debt issuance costs at January 31, 2017 were $18.6 million.

Note 20 - Financial Informati66

Note 20 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors - Consolidating Condensed Financial Statements - Balance Sheets (Details) - USD ($) $ in Thousands	Jan. 31, 2017	Oct. 31, 2016
Assets	$ 2,145,296	$ 2,354,956	[1]
Income taxes receivable	283,322	283,633
Liabilities	2,273,576	2,483,466	[1]
Notes payable and term loan and Revolving credit facility	1,619,673	1,657,758
Stockholders’ (deficit) equity	(128,280)	(128,510)	[1]
Total liabilities and equity	2,145,296	2,354,956	[1]
Consolidation, Eliminations [Member]
Assets	1,676,770	1,757,988
Intercompany receivable	(1,319,494)	(1,315,446)
Investments in and amounts due from consolidated subsidiaries	(357,276)	(442,542)
Notes payable and term loan and Revolving credit facility
Intercompany payable	(1,319,494)	(1,315,446)
Amounts due to consolidated subsidiaries	(108,196)	(82,951)
Stockholders’ (deficit) equity	(249,080)	(359,591)
Total liabilities and equity	1,676,770	1,757,988
Subsidiary Issuer [Member] \| Reportable Legal Entities [Member]
Assets	1,407,511	1,444,867
Income taxes receivable	(51,663)	(58,597)
Intercompany receivable	1,312,141	1,227,334
Investments in and amounts due from consolidated subsidiaries		4,914
Notes payable and term loan and Revolving credit facility	1,616,009	1,652,357
Amounts due to consolidated subsidiaries	9,089
Stockholders’ (deficit) equity	(218,132)	(208,608)
Total liabilities and equity	1,407,511	1,444,867
Guarantor Subsidiaries [Member] \| Reportable Legal Entities [Member]
Assets	1,797,980	1,871,606
Income taxes receivable	204,702	226,258
Investments in and amounts due from consolidated subsidiaries	357,276	437,628
Notes payable and term loan and Revolving credit facility	3,648	5,084
Intercompany payable	1,162,249	1,157,453
Stockholders’ (deficit) equity	109,933	130,568
Total liabilities and equity	1,797,980	1,871,606
Non-Guarantor Subsidiaries [Member] \| Reportable Legal Entities [Member]
Assets	486,324	680,531
Income taxes receivable	32	32
Intercompany receivable	7,353	88,112
Notes payable and term loan and Revolving credit facility	16	317
Stockholders’ (deficit) equity	357,279	437,631
Total liabilities and equity	486,324	680,531
Parent Company [Member] \| Reportable Legal Entities [Member]
Assets	130,251	115,940
Income taxes receivable	130,251	115,940
Notes payable and term loan and Revolving credit facility
Intercompany payable	157,245	157,993
Amounts due to consolidated subsidiaries	99,107	82,951
Stockholders’ (deficit) equity	(128,280)	(128,510)
Total liabilities and equity	130,251	115,940
Homebuilding [Member]
Assets	1,748,725	1,874,093	[1]
Homebuilding, excluding Notes payable and term loan and Revolving credit facility	567,533	653,263
Liabilities	2,187,206	2,311,021	[1]
Homebuilding [Member] \| Subsidiary Issuer [Member] \| Reportable Legal Entities [Member]
Assets	147,033	271,216
Homebuilding, excluding Notes payable and term loan and Revolving credit facility	545	1,118
Homebuilding [Member] \| Guarantor Subsidiaries [Member] \| Reportable Legal Entities [Member]
Assets	1,216,610	1,194,267
Homebuilding, excluding Notes payable and term loan and Revolving credit facility	502,953	565,163
Homebuilding [Member] \| Non-Guarantor Subsidiaries [Member] \| Reportable Legal Entities [Member]
Assets	385,082	408,610
Homebuilding, excluding Notes payable and term loan and Revolving credit facility	61,856	83,476
Homebuilding [Member] \| Parent Company [Member] \| Reportable Legal Entities [Member]
Homebuilding, excluding Notes payable and term loan and Revolving credit facility	2,179	3,506
Financial Services [Member]
Assets	113,249	197,230	[1]
Liabilities	86,370	172,445	[1]
Financial Services [Member] \| Guarantor Subsidiaries [Member] \| Reportable Legal Entities [Member]
Assets	19,392	13,453
Liabilities	19,197	13,338
Financial Services [Member] \| Non-Guarantor Subsidiaries [Member] \| Reportable Legal Entities [Member]
Assets	93,857	183,777
Liabilities	$ 67,173	$ 159,107

[1]	Derived from the audited balance sheet as of October 31, 2016.

Note 20 - Financial Informati67

Note 20 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors - Consolidating Condensed Financial Statements - Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Total revenues	$ 552,009	$ 575,605
Total expenses	557,666	587,319
Gain on extinguishment of debt	7,646
Income (loss) from unconsolidated joint ventures	(1,666)	(1,480)
(Loss) income before income taxes	323	(13,194)
Income Tax Expense (Benefit)	466	2,979
Net (loss) income	(143)	(16,173)
Homebuilding [Member]
Homebuilding revenue	539,160	557,379
Total expenses	550,811	579,104
Financial Services [Member]
Financial services revenue	12,849	18,226
Total expenses	6,855	8,215
Reportable Legal Entities [Member] \| Guarantor Subsidiaries [Member]
Intercompany charges	22,940	34,463
Total revenues	457,870	477,155
Total expenses	469,246	502,707
Income (loss) from unconsolidated joint ventures	16	16
(Loss) income before income taxes	(11,360)	(25,536)
Income Tax Expense (Benefit)	23,942	24,447
Equity in (loss) income of consolidated subsidiaries	14,667	15,553
Net (loss) income	(20,635)	(34,430)
Reportable Legal Entities [Member] \| Guarantor Subsidiaries [Member] \| Homebuilding [Member]
Homebuilding revenue	455,372	474,910
Total expenses	444,593	466,620
Reportable Legal Entities [Member] \| Guarantor Subsidiaries [Member] \| Financial Services [Member]
Financial services revenue	2,498	2,245
Total expenses	1,713	1,624
Reportable Legal Entities [Member] \| Non-Guarantor Subsidiaries [Member]
Intercompany charges		77
Total revenues	94,139	98,450
Total expenses	77,790	81,401
Income (loss) from unconsolidated joint ventures	(1,682)	(1,496)
(Loss) income before income taxes	14,667	15,553
Net (loss) income	14,667	15,553
Reportable Legal Entities [Member] \| Non-Guarantor Subsidiaries [Member] \| Homebuilding [Member]
Homebuilding revenue	83,788	82,469
Total expenses	72,648	74,733
Reportable Legal Entities [Member] \| Non-Guarantor Subsidiaries [Member] \| Financial Services [Member]
Financial services revenue	10,351	15,981
Total expenses	5,142	6,591
Reportable Legal Entities [Member] \| Subsidiary Issuer [Member]
Intercompany charges	22,940	34,540
Total revenues	22,940	34,540
Total expenses	33,042	35,811
Gain on extinguishment of debt	7,646
(Loss) income before income taxes	(2,456)	(1,271)
Income Tax Expense (Benefit)	(6,935)	(6,918)
Equity in (loss) income of consolidated subsidiaries	(14,003)	(13,510)
Net (loss) income	(9,524)	(7,863)
Reportable Legal Entities [Member] \| Subsidiary Issuer [Member] \| Homebuilding [Member]
Total expenses	33,042	35,811
Reportable Legal Entities [Member] \| Parent Company [Member]
Total expenses	528	1,940
(Loss) income before income taxes	(528)	(1,940)
Income Tax Expense (Benefit)	(16,541)	(14,550)
Equity in (loss) income of consolidated subsidiaries	(16,156)	(28,783)
Net (loss) income	(143)	(16,173)
Reportable Legal Entities [Member] \| Parent Company [Member] \| Homebuilding [Member]
Total expenses	528	1,940
Consolidation, Eliminations [Member]
Intercompany charges	(22,940)	(34,540)
Total revenues	(22,940)	(34,540)
Total expenses	(22,940)	(34,540)
Equity in (loss) income of consolidated subsidiaries	15,492	26,740
Net (loss) income	$ 15,492	$ 26,740

Note 20 - Financial Informati68

Note 20 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors - Consolidating Condensed Financial Statements - Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Net (loss) income	$ (143)	$ (16,173)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities	26,059	(48,908)
Net cash (used in) provided by operating activities	25,916	(65,081)
Proceeds from sale of property and assets	60	93
Purchase of property, equipment and other fixed assets and acquisitions	(560)	(1,253)
Investments in and advances to unconsolidated joint ventures	(14,639)	(11,497)
Distributions of capital from unconsolidated joint ventures	1,939	2,132
Net cash (used in) provided by investing activities	(15,525)	(10,554)
Net payments from mortgages and notes	(8,911)	(15,393)
Net proceeds from model sale leaseback financing programs	(3,521)	2,229
Net proceeds from land bank financing programs	(22,862)	135,074
Payments related to senior notes and senior amortizing notes	(33,086)	(175,040)
Net proceeds related to mortgage warehouse lines of credit	(86,058)	31,481
Deferred financing cost from land bank financing program and note issuances	(938)	(3,883)
Net cash provided by (used in) financing activities	(155,376)	(25,532)
Net decrease in cash and cash equivalents	(144,985)	(101,167)
Cash and cash equivalents balance, beginning of period	346,765	253,745
Cash and cash equivalents balance, end of period	201,780	152,578
Related to Mortgage Company [Member]
(Increase) decrease in restricted cash	(2,324)	(81)
Related to Letters of Credit [Member]
(Increase) decrease in restricted cash	(1)	52
Reportable Legal Entities [Member] \| Parent Company [Member]
Net (loss) income	(143)	(16,173)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities	(15,265)	(11,768)
Net cash (used in) provided by operating activities	(15,408)	(27,941)
Intercompany financing activities	15,408	27,941
Net cash provided by (used in) financing activities	15,408	27,941
Reportable Legal Entities [Member] \| Subsidiary Issuer [Member]
Net (loss) income	(9,524)	(7,863)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities	(10,126)	(16,045)
Net cash (used in) provided by operating activities	(19,650)	(23,908)
Investments in and advances to unconsolidated joint ventures	(93)	(130)
Intercompany investing activities	(70,802)	117,284
Net cash (used in) provided by investing activities	(70,896)	117,206
Payments related to senior notes and senior amortizing notes	(33,086)	(175,040)
Deferred financing cost from land bank financing program and note issuances	(528)
Net cash provided by (used in) financing activities	(33,614)	(175,040)
Net decrease in cash and cash equivalents	(124,160)	(81,742)
Cash and cash equivalents balance, beginning of period	261,553	199,318
Cash and cash equivalents balance, end of period	137,393	117,576
Reportable Legal Entities [Member] \| Subsidiary Issuer [Member] \| Related to Letters of Credit [Member]
(Increase) decrease in restricted cash	(1)	52
Reportable Legal Entities [Member] \| Guarantor Subsidiaries [Member]
Net (loss) income	(20,635)	(34,430)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities	66,555	80,623
Net cash (used in) provided by operating activities	45,920	46,193
Proceeds from sale of property and assets	60	72
Purchase of property, equipment and other fixed assets and acquisitions	(560)	(1,223)
Investments in and advances to unconsolidated joint ventures	(94)	(865)
Distributions of capital from unconsolidated joint ventures	231	80
Net cash (used in) provided by investing activities	(363)	(1,936)
Net payments from mortgages and notes	2,154	(10,035)
Net proceeds from model sale leaseback financing programs	(2,205)	2,118
Net proceeds from land bank financing programs	(18,371)	106,813
Deferred financing cost from land bank financing program and note issuances	(397)	(2,496)
Intercompany financing activities	(25,365)	(143,237)
Net cash provided by (used in) financing activities	(44,184)	(46,837)
Net decrease in cash and cash equivalents	1,373	(2,580)
Cash and cash equivalents balance, beginning of period	(395)	(4,800)
Cash and cash equivalents balance, end of period	978	(7,380)
Reportable Legal Entities [Member] \| Non-Guarantor Subsidiaries [Member]
Net (loss) income	14,667	15,553
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities	387	(74,978)
Net cash (used in) provided by operating activities	15,054	(59,425)
Proceeds from sale of property and assets		21
Purchase of property, equipment and other fixed assets and acquisitions		(30)
Investments in and advances to unconsolidated joint ventures	(14,452)	(10,502)
Distributions of capital from unconsolidated joint ventures	1,708	2,052
Net cash (used in) provided by investing activities	(15,068)	(8,540)
Net payments from mortgages and notes	(11,065)	(5,358)
Net proceeds from model sale leaseback financing programs	(1,316)	111
Net proceeds from land bank financing programs	(4,491)	28,261
Net proceeds related to mortgage warehouse lines of credit	(86,058)	31,481
Deferred financing cost from land bank financing program and note issuances	(13)	(1,387)
Intercompany financing activities	80,759	(1,988)
Net cash provided by (used in) financing activities	(22,184)	51,120
Net decrease in cash and cash equivalents	(22,198)	(16,845)
Cash and cash equivalents balance, beginning of period	85,607	59,227
Cash and cash equivalents balance, end of period	63,409	42,382
Reportable Legal Entities [Member] \| Non-Guarantor Subsidiaries [Member] \| Related to Mortgage Company [Member]
(Increase) decrease in restricted cash	(2,324)	(81)
Consolidation, Eliminations [Member]
Net (loss) income	15,492	26,740
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities	(15,492)	(26,740)
Intercompany investing activities	70,802	(117,284)
Net cash (used in) provided by investing activities	70,802	(117,284)
Intercompany financing activities	(70,802)	117,284
Net cash provided by (used in) financing activities	$ (70,802)	$ 117,284

Note 21 - Transactions With R69

Note 21 - Transactions With Related Parties (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Tavit Najarian [Member]
Related Party Transaction, Amounts of Transaction	$ 0.2	$ 0.3