Meritage Homes Corporation is a publicly traded American

real estate development Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw Real Estate, land and the sale of developed land or parcels ...

company that constructs a variety of single-family detached homes across the United States. It is the sixth largest home builder in the United States, based on 2020 home sales, and its homes are designed for entry-level and move-up buyers. The company also develops active adult communities and

luxury real estate Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more general ...

in Arizona. The company is headquartered in

Scottsdale, Arizona , settlement_type = City , named_for = Winfield Scott , image_skyline = , image_seal = Seal of Scottsdale (Arizona).svg , image_blank_emblem = City of Scottsdale Script Logo.svg , nick ...

History

Meritage Homes was founded in 1985 as Monterey Homes in Scottsdale, Arizona, by Steve Hilton and William "Bill" Cleverly. In 1997, the company changed its name to Meritage Homes Corp, and began trading on the New York Stock Exchange under the symbol MTH. In 2011, the company unveiled its first net-zero energy homes, in

Buckeye, Arizona Buckeye is a city in Maricopa County, Arizona, United States, and is the westernmost suburb in the Phoenix metropolitan area. As of the 2020 census the population was 91,502, up from 50,876 in 2010 and 6,537 in 2000. It was the fastest-growin ...

. In July 2014, the company acquired

Douglasville, Georgia The city of Douglasville is the county seat of Douglas County, Georgia, United States. , the city had a population of 34,650, up from 30,961 in 2010 and 20,065 in 2000. Douglasville is located approximately west of Atlanta and is part of th ...

-based Legendary Communities, the owner operator of almost 4,000 home sites, for nearly $130 million. In 2015, the company promoted its Sierra Crest development in

Fontana, CA Fontana is a city in San Bernardino County, California. Founded by Azariel Blanchard Miller in 1913, it remained essentially rural until World War II, when entrepreneur Henry J. Kaiser built a large steel mill in the area. It is now a regional ...

as California's first net-zero energy community. In April 2019, the company built its first all-electric, zero-net-energy townhome community, in

Irvine California Irvine () is a master-planned city in South Orange County, California, United States, in the Los Angeles metropolitan area. The Irvine Company started developing the area in the 1960s and the city was formally incorporated on December 28, 1971. ...

. 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.

Operations

Meritage is headquartered in Scottsdale, Arizona, and divides its operations into four regions: West, Central, East and South. 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. The company trades on the NY Stock Exchange under the symbol MTH, and is also listed in the S&P SmallCap 600 Index.

Awards and recognition

In 2021, the company was listed as one of

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' best mid-sized companies, ranking #39 on the list.

References

External links

* {{authority control Companies listed on the New York Stock Exchange Home builders Construction and civil engineering companies of the United States Companies based in Scottsdale, Arizona