Hovnanian Enterprises Inc., the largest home-builder in New Jersey, reported a narrower loss for its fiscal fourth quarter as sales increased in a recovering U.S. housing market.

The net loss for the three months ended Oct. 31 was $84.4 million, or 59 cents a share, compared with $98.3 million, or 90 cents, a year earlier, the Red Bank-based company said today in a statement. The results included $87 million in costs tied to the repurchase of debt.