| Meritage Homes | |
| Type: | Public |
| Traded As: | S&P 600 component |
| Industry: | Home construction |
| Founders: | Steve Hilton, William "Bill" Cleverly |
| Founded: | 1985 |
| Hq Location: | Scottsdale, Arizona |
| Hq Location Country: | U.S. |
| Net Income: | US$423 million[1] |
| Net Income Year: | 2020 |
| Num Employees: | 1,570 |
| Num Employees Year: | 2020 |
Meritage Homes Corporation is a publicly traded American real estate development company that constructs a variety of single-family detached homes across the United States. It is the fifth largest home builder in the United States, based on 2023 home sales.[2] The company also develops active adult communities and luxury real estate in Arizona.[3]
The company is headquartered in Scottsdale, Arizona.[4]
Meritage Homes was founded in 1985 as Monterey Homes in Scottsdale, Arizona, by Steve Hilton and William "Bill" Cleverly.[5]
In 1997, the company changed its name to Meritage Homes Corp, and began trading on the New York Stock Exchange under the symbol MTH.[5]
In 2011, the company unveiled its first net-zero energy homes, in Buckeye, Arizona.[6]
In July 2014, the company acquired Douglasville, Georgia-based Legendary Communities, the owner operator of almost 4,000 home sites, for nearly $130 million.[7]
In 2015, the company promoted its Sierra Crest development in Fontana, CA as California's first net-zero energy community.[8]
In April 2019, the company built its first all-electric, zero-net-energy townhome community, in Irvine California.[6] In December, the Wall Street Journal reported how large home builders like Meritage were targeting millennials by producing a larger number of less expensive, entry-level homes.[9]
Meritage is headquartered in Scottsdale, Arizona, and divides its operations into four regions: West, Central, East and South.[7] It develops homes for entry level and first move-up buyers, including "net zero" energy efficient homes that provide as much power as they consume.[10] The company trades on the NY Stock Exchange under the symbol MTH, and is also listed in the S&P SmallCap 600 Index.
In 2021, the company was listed as one of Forbes' best mid-sized companies, ranking #39 on the list.[11]
For several years they have been a Top 10 home builder according to Builder's Top 100 Home Builder rankings. In 2023, they were the 5th largest builder.[12]
Multiple customers have reported issues with their single family homes. They have described blue tape, cracks, fissures and issues within newly built homes.[13]