Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
DECESARIS GEATON A JR
  2. Issuer Name and Ticker or Trading Symbol
HOVNANIAN ENTERPRISES INC [HOV]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
10 HIGHWAY 35
3. Date of Earliest Transaction (Month/Day/Year)
01/17/2006
(Street)

RED BANK, NJ 07701
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 01/17/2006   M   3,001 A (1) 347,051 D  
Class A Common Stock 01/17/2006   F   1,124 D $ 51.92 345,927 D  
Class A Common Stock               20,000 I Held by Geaton A. DeCesaris Charitable Remainder Unitrust (2)
Class A Common Stock               200,000 I Held by DeCesaris Family LLC #1 (3)
Class A Common Stock               105,740 I Held by Geaton and Josephine DeCesaris Family Trust (4)
Class A Common Stock               21,458 I Held by Five Queens, Inc. (5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Phantom Stock Units (6) 01/17/2006   M     3,001   (7)   (7) Class A Common Stock 3,001 (1) 9,002 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
DECESARIS GEATON A JR
10 HIGHWAY 35
RED BANK, NJ 07701
  X      

Signatures

 Nancy Marrazzo Attorney-in-Fact   01/19/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) N/A
(2) The Reporting Person is trustee and beneficiary of the Geaton A. DeCesaris Charitable Remainder Unitrust; the Reporting Person continues to report beneficial ownership of all of the Class A Common Stock held by the unitrust but disclaims beneficial ownership except to the extent of his pecuniary interest therein
(3) The Reporting Person disclaims beneficial ownership of these shares held by the family LLC except to the extent of his pecuniary interest therein
(4) The Reporting Person disclaims beneficial ownership of these shares
(5) Five Queens, Inc. is a subchapter S corporation owned by the Reporting Person's children and of which he is the President
(6) 1-for-1
(7) Payout to be made as soon as practicable after vesting on January 15, 2006 with respect to 25% of the Deferred Share Award and upon retirement or occurrence of certain other events set forth under the terms of Deferred Compensation Plan with respect to 75% of the Deferred Share Award

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