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National homebuilder goes all in on Phoenix

Posted by   /  May 29, 2020  /  No Comments

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By Angela Gonzales | Phoenix Business Journal

At a time when Hovnanian Enterprises Inc. (NYSE: HOV) is rightsizing its assets nationwide, the New Jersey-based homebuilder is bullish on metro Phoenix.

The company is phasing out of the Chicago market as it sells through its existing communities, according to a May 19 regulatory filing with the U.S. Securities and Exchange Commission. It also is working to reduce its annualized overhead expenses by $20 million via furloughs, layoffs and other cost-reductions.

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  • Published: 1 month ago on May 29, 2020
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  • Last Modified: May 29, 2020 @ 9:55 am
  • Filed Under: Real Estate

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