Monday, September 17, 2007

The Hovnanian Hootenanny

It was called the "deal of the century", a 3 day Hovananian Enterprises (HOV) home sale event.

The company says it bagged 2,100 "gross sales". That includes more than 1,700 contracts and 400 sales deposits.

This is being spun as "phenomenal" by one of the pr flacks at the company. I'm sorry to be a stick in the mud, but 2,100 gross contracts at a company that has experienced cancellations in excess of 30% in past quarters is nothing to be happy about.

The company also claims that it had a 7-fold rise in traffic to its web site. I would love to see independent confirmation of that.

No comments: