Meritage Homes Corporation

18655 North Claret Drive, Suite 400, Scottsdale, Arizona, 85255

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About Meritage Homes Corporation

Summary

Meritage Homes Corporation (NYSE: MTH) is a publicly traded U.S. homebuilder headquartered in Scottsdale, Arizona. Founded in 1985 as Monterey Homes by Steve Hilton and William “Bill” Cleverly, the company became publicly traded in 1997 and was renamed Meritage Homes Corporation. It is currently the fifth-largest public homebuilder in the United States, based on homes closed in 2024.

Operating across 12 states: Arizona, California, Colorado, Utah, Texas, Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, and Tennessee, Meritage focuses on constructing energy-efficient, affordable entry-level and first move-up homes. The company has delivered over 200,000 homes in its 40-year history.

Meritage is recognised for its commitment to sustainability, having received multiple accolades from the U.S. Environmental Protection Agency, including the ENERGY STAR® Partner of the Year for Sustained Excellence Award and the Indoor airPLUS Leader Award. The company also offers financial services such as title and escrow, mortgage, and insurance services to homebuyers.

Under the leadership of CEO Phillippe Lord, who took over in 2021, Meritage continues to focus on delivering quality homes with a transparent buying process and quick move-in timelines.

History

Meritage Homes Corporation, originally founded as Monterey Homes in 1985, was established by Steve Hilton and William “Bill” Cleverly in Scottsdale, Arizona. The company initially focused on building single-family homes in the Phoenix metropolitan area.

In 1997, the company underwent a significant transformation, changing its name to Meritage Homes Corporation, a name that symbolised its dedication to both “heritage” and “lifestyle.” The company began trading on the New York Stock Exchange under the symbol MTH, marking the beginning of its public journey.

During the late 1990s and early 2000s, Meritage Homes expanded its operations, extending its reach beyond Arizona. It entered new markets in the Western and Southern United States, eventually becoming a prominent homebuilder across multiple regions.

By 2005, Meritage had significantly expanded its presence in California, Nevada, and Texas, making it one of the largest residential construction companies in the country.

In the years that followed, Meritage Homes focused on developing a range of home styles to cater to various buyer segments, from first-time homebuyers to move-up buyers. A key milestone in the company’s history occurred in 2011 when Meritage unveiled its first net-zero energy homes in Buckeye, Arizona.

These homes were designed to be energy-efficient and environmentally friendly, a move that reflected the company’s commitment to sustainable building practices. This commitment was further reinforced in 2015 when Meritage promoted its Sierra Crest development in Fontana, California, as the state’s first net-zero energy community.

The company continued to expand its green building efforts, with significant achievements in energy-efficient home designs. In 2019, Meritage built its first all-electric, zero-net-energy townhome community in Irvine, California.

Meritage’s growth was also marked by strategic acquisitions. In July 2014, the company acquired Legendary Communities, a Georgia-based builder of residential communities. This acquisition added nearly 4,000 home sites to Meritage’s portfolio and solidified its presence in the Southeastern United States.

Throughout the 2010s, Meritage continued to innovate and evolve in response to market demands. In December 2019, the Wall Street Journal reported that Meritage and other large homebuilders were increasingly targeting millennial buyers by focusing on the construction of affordable, entry-level homes.

The company continues to be headquartered in Scottsdale, Arizona, and operates in multiple regions across the country, maintaining its position as the fifth-largest homebuilder based on 2023 sales.

Portfolio

Meritage Homes Corporation offers a diverse portfolio of residential communities across the United States, focusing on energy-efficient and affordable housing solutions.

Meritage’s entry-level homes, under its LiVE.NOW® brand, are designed to provide affordable housing with a simplified construction and sales process. These homes are built with reduced SKU counts and a streamlined plan library, allowing the company to pass on cost savings to customers.

For first-time move-up buyers, Meritage offers a variety of homes that feature larger floor plans and additional amenities to accommodate growing families. In addition to its standard offerings, Meritage Homes develops active adult communities, particularly in Arizona, to meet the lifestyle needs of older adults.

Energy efficiency and sustainability are key aspects of Meritage’s portfolio. The company constructs homes that meet or exceed ENERGY STAR® standards, incorporating energy-efficient features such as spray foam insulation, low-E windows, and advanced HVAC systems.

In Florida, Meritage uses concrete block construction in its homes to withstand severe weather conditions like hurricanes. The company’s commitment to sustainability is further demonstrated through its reNEWable Living Homes, which meet Net Zero Energy standards.

Meritage Homes operates in multiple states across the U.S., including Arizona, California, Colorado, Florida, Georgia, Mississippi, North Carolina, South Carolina, Tennessee, and Texas. The company has a strong presence in nearly 50 regions, ensuring it offers a broad range of homes to meet the needs of different markets.

Leadership

Steven J. Hilton | Executive Chairman of the Board
Phillippe Lord | Chief Executive Officer
Hilla Sferruzza | Chief Financial Officer
Malissia Clinton | General Counsel and Secretary
Javier Feliciano | Chief People Officer

References

Meritage Homes: New Home Builder | Meritage Homes Corporation
Meritage Homes | LinkedIn
Meritage Homes Corporation | Wikipedia
Meritage Homes Corp | Company Profile | GlobalData
Meritage Homes | NewHomeSource
Meritage Homes | Home Builder Profile | Zillow
Meritage Homes – Overview, News & Similar companies | ZoomInfo
Meritage Homes Announces Quarterly Cash Dividend | Yahoo Finance
Meritage Homes – New Homes Builders profile | Realtor
Meritage Homes Reviews | Yelp
Meritage Homes announces dividend and $500 million | Investing.com

18655 North Claret Drive, Suite 400, Scottsdale, Arizona, 85255

Website https://www.meritagehomes.com/

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