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 * GREENBAUM AUTHUR MARTIN   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) 03/08/2006 (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

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
Stock Option (right to buy)	$ 5.575	03/08/2006		D(1)			10,000	(2)	11/05/2011	Class A Common Stock	10,000	(3)	0	D
Stock Option (right to buy)	$ 5.575	03/08/2006		A(1)		10,000		(4)	12/31/2006	Class A Common Stock	10,000	(3)	10,000	D
Stock Opton (right to buy)	$ 36.93	03/08/2006		D(1)			15,000	(5)	01/12/2014	Class A Common Stock	15,000	(3)	0	D
Stock Option (right to buy)	$ 36.93	03/08/2006		A(1)		15,000		(4)	12/31/2006	Class A Common Stock	15,000	(3)	15,000	D
Stock Option (right to buy)	$ 51.68	03/08/2006		D(1)			5,000	(6)	01/17/2015	Class A Common Stock	5,000	(3)	0	D
Stock Option (right to buy)	$ 51.68	03/08/2006		A(1)		5,000		(4)	12/31/2006	Class A Common Stock	5,000	(3)	5,000	D
Stock Option (right to buy)	$ 56.82	03/08/2006		D(1)			2,500	(7)	05/19/2015	Class A Common Stock	2,500	(3)	0	D
Stock Option (right to buy)	$ 56.82	03/08/2006		A(1)		2,500		(4)	12/31/2006	Class A Common Stock	2,500	(3)	2,500	D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
GREENBAUM AUTHUR MARTIN 10 HIGHWAY 35 RED BANK, NJ 07701	X

Signatures

Nancy A. Marrazzo Attorney-in-Fact		03/09/2006
**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)	In connection with the end of the Reporting Person's term as Director of the Issuer on March 8, 2006 following his decision not to stand for reelection to the Board of Directors, prior to the expiration of his term the Compensation Committee of the Board of Directors (i) accelerated the vesting of the Reporting Person's outstanding stock options so that they became fully vested on March 8, 2006 and (ii) extended the period during which his outstanding stock options may be exercised from a 60-day period following the end of his term to until December 31, 2006. The extension of the exercise period is reflected in this Statement as the deemed cancellation of "old" options and the deemed regrant of "new" options.
(2)	The option vests in three equal annual installments beginning on November 6, 2002.
(3)	N/A
(4)	Immediate
(5)	The option vests in three equal annual installments beginning on January 13, 2005.
(6)	The option vests in three equal annual installments beginning on January 18, 2006.
(7)	The option vests in three equal annual installments beginning on May 20, 2006.

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