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 parce ...

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. The company also develops active adult communities and luxury real estate in Arizona. The company is headquartered in

Scottsdale, Arizona Scottsdale is a city in eastern Maricopa County, Arizona, United States, and is part of the Phoenix metropolitan area. Named Scottsdale in 1894 after its founder Winfield Scott (chaplain), Winfield Scott, a retired Chaplain Corps (United States ...

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, Maricopa County, Arizona, United States. It is Arizona's second-largest city by area, and it is the westernmost suburb in the Phoenix Metropolitan Area. As of the 2020 United States census, 2020 ...

. In July 2014, the company acquired

Douglasville, Georgia The city of Douglasville is the county seat of and largest city in 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 Atlant ...

-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 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. 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. 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.

Customer complaints

Multiple customers have reported issues with their single family homes. They have described blue tape, cracks, fissures and issues within newly built homes.

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