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U.S. homebuilding company From Wikipedia, the free encyclopedia
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]
| |
| 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 |
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]
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