SOURCE: K. Hovnanian Homes

K. Hovnanian Homes

September 29, 2009 09:30 ET

K. Hovnanian Homes Ranked No. 1 Builder of North Jersey Homes by J.D. Power and Associates

EDISON, NJ--(Marketwire - September 29, 2009) - K. Hovnanian Homes outscored all of its competitors to be named North Jersey's top builder in overall customer satisfaction in J.D. Power's 2009 U.S. New-Home Builder Customer Satisfaction Study.

The company also earned a "better than most" rating in the Philadelphia area for customer satisfaction and for quality.

"We work very hard to make sure our customers are satisfied with every aspect of their home-buying experience," said Lori Olszewski, marketing director for New Jersey, New York and Pennsylvania. "It's gratifying that they're giving us good grades in the J.D. Power's study. Nevertheless, we're continuing to introduce new practices to make the home-buying experience even better and new features in our homes to deliver more value. In this competitive, economically challenging environment, there's no time to rest on our laurels."

J.D. Power and Associates has been conducting its New-Home Satisfaction Study nationwide for 13 years. Builders are rated on nine factors: builder's sales staff; builder's warranty/customer service staff; workmanship/materials; price/value; home readiness; construction manager; recreational facilities; design center; and location. K. Hovnanian scored an 801 on a 1,000-point scale, the highest of any builder. No other builder in the market scored above the average for the area.

To be included in the North Jersey and Philadelphia studies, builders must have closed 150 or more homes in each market in 2008. The survey covered New Jersey homes sold in Bergen, Essex, Hudson, Hunterdon, Middlesex, Monmouth, Morris, Ocean Passaic, Somerset, Sussex, Union and Warren counties.

The Philadelphia study included Atlantic, N.J.; Berks, Pa.; Bucks, Pa.; Burlington, N.J.; Camden, N.J.; Chester, Pa.; Delaware, Pa.; Gloucester, N.J.; Kent, Del.; Lehigh, Pa.; Montgomery, Pa.; New Castle, Del.; Philadelphia, Pa.; Salem, N.J. and Sussex, Del.

"Fierce competition among home builders has led to a market where only the strongest companies have survived," said Paula Sonkin, vice president of the real estate and construction industries practice at J.D. Power and Associates. "This is great news for new-home buyers -- particularly first-time buyers -- since builders are offering unprecedented high levels of quality, value and service at relatively lower prices."

The company earned "better than most" ratings for customer satisfaction and quality in several other places around the country, including Chicago, Los Angeles, Sacramento and Dallas/Fort Worth.

K. Hovnanian Homes is the largest homebuilder in New Jersey and sixth largest homebuilder in the nation. Founded in 1959 by Kevork S. Hovnanian, chairman, the company sells homes in 18 states and the District of Columbia. The parent company, Hovnanian Enterprises, Inc., is headquartered in Red Bank, N.J., and delivered 11,281 homes during Fiscal 2008 under several names. Of those, 1,412 were delivered in New Jersey, New York and Pennsylvania. Additional homes in those states were sold through joint ventures. The company reported $3.3 billion in total revenues in Fiscal 2008.

K. Hovnanian builds planned communities that include single-family, townhomes and garden homes. In addition, it constructs homes in mid-rise, high-rise and mixed-use buildings. The company also is well known for its active-adult homes, branded as K. Hovnanian's Four Seasons, and its expertise in community redevelopment and environment rehabilitation. More information is available at www.khov.com or at 888-KHOV-HOME.

Contact Information

  • Contact:
    Doug Fenichel, APR
    K. Hovnanian Homes
    (732) 623-6979
    Cell Phone: (973) 769-0688