Company type | Public |
---|---|
NYSE:
MTH S&P 600 component | |
Industry | Home construction |
Founded | 1985 |
Founders | Steve Hilton, William "Bill" Cleverly |
Headquarters |
Scottsdale, Arizona, U.S. |
Key people | |
US$423 million [4] (2020) | |
Number of employees | 1,570 [4] (2020) |
Subsidiaries |
|
Website |
www |
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. [5] The company also develops active adult communities and luxury real estate in Arizona. [6] [7]
The company is headquartered in Scottsdale, Arizona. [6]
Meritage Homes was founded in 1985 as Monterey Homes in Scottsdale, Arizona, by Steve Hilton and William "Bill" Cleverly. [8]
In 1997, the company changed its name to Meritage Homes Corp, and began trading on the New York Stock Exchange under the symbol MTH. [8]
In 2011, the company unveiled its first net-zero energy homes, in Buckeye, Arizona. [9]
In July 2014, the company acquired Douglasville, Georgia-based Legendary Communities, the owner operator of almost 4,000 home sites, for nearly $130 million. [10]
In 2015, the company promoted its Sierra Crest development in Fontana, CA as California's first net-zero energy community. [11]
In April 2019, the company built its first all-electric, zero-net-energy townhome community, in Irvine California. [9] 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. [12]
Meritage is headquartered in Scottsdale, Arizona, and divides its operations into four regions: West, Central, East and South. [10] 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. [13] The company trades on the NY Stock Exchange under the symbol MTH, and is also listed in the S&P SmallCap 600 Index.[ citation needed]
In 2021, the company was listed as one of Forbes' best mid-sized companies, ranking #39 on the list. [14]
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. [15]
Multiple customers have reported issues with their single family homes. They have described blue tape, cracks, fissures and issues within newly built homes. [16] [17]