Meritage Homes Management Offers Additional Commentary on Fourth Quarter 2013 Results

Meritage Homes Management Offers Additional Commentary on Fourth Quarter 2013 
Results 
SCOTTSDALE, AZ -- (Marketwired) -- 01/09/14 --  In addition to the
preliminary fourth quarter results released previously today by
Meritage Homes Corporation (NYSE: MTH) in connection with its
previously announced equity offering, management further commented
that fourth quarter 2013 margins are expected to show substantial
improvement over the prior year. Management expects to report fourth
quarter 2013 home closing gross margin increased by 400-425 basis
points over the fourth quarter of 2012. The Company expects to report
its full fourth quarter and fiscal year results on February 5, 2014. 
About Meritage Homes Corporation
 Meritage Homes is the ninth-largest
public homebuilder in the United States, based on homes closed in
2012. Meritage builds and sells single-family homes for first-time,
move-up, luxury and active adult buyers across the Western, Southern
and Southeastern United States. As of September 30, 2013, the company
had 179 actively selling communities in markets including Sacramento,
San Francisco's East Bay, the Central Valley and Orange County,
California; Houston, Dallas-Ft. Worth, Austin and San Antonio, Texas;
Phoenix/Scottsdale, Green Valley and Tucson, Arizona; Denver,
Colorado; Orlando and Tampa, Florida; Raleigh and Charlotte, North
Carolina; York County, South Carolina and Nashville, Tennessee. 
Meritage has designed and built more than 80,000 homes in its 28-year
history, and has a reputation for its distinctive style, quality
construction, and positive customer experience. Meritage is the
industry leader in energy efficient homebuilding and in 2013 Meritage
received the U.S. Environmental Protection Agency's ENERGY STAR
Partner of the Year for Sustained Excellence Award, for its
innovation and industry leadership in energy efficient homebuilding.
Meritage was the first national homebuilder to be 100 percent ENERGY
STAR(R) qualified in every home it builds, and far exceeds ENERGY
STAR standards today. 
For more information, visit meritagehomes.com. 
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
statements include those regarding the Company's expected impro
vement
in fourth quarter home closing gross margin, which are subject to
significant risks and uncertainties. Actual results may differ from
those set forth in the forward-looking statements. The Company makes
no commitment, and disclaims any duty, to update or revise any
forward-looking statements to reflect future events or changes in
these expectations.  
Meritage's business is subject to a number of risks and
uncertainties. As a result of those risks and uncertainties, the
Company's stock and note prices may fluctuate dramatically. The risks
and uncertainties include but are not limited to the following:
weakness in the homebuilding market resulting from an unexpected
setback in the current economic recovery; the availability of
finished lots and undeveloped land; interest rates and changes in the
availability and pricing of residential mortgages; the availability
and cost of materials and labor; adverse changes in tax laws that
benefit our homebuyers; the ability of our potential buyers to sell
their existing homes; cancellation rates and home prices in our
markets; inflation in the cost of materials used to construct homes;
the adverse effect of slower order absorption rates; potential
write-downs or write-offs of assets, including pre-acquisition costs
and deposits; our potential exposure to natural disasters;
competition; the adverse impacts of cancellations resulting from
small deposits relating to our sales contracts; construction defect
and home warranty claims; our success in prevailing on contested tax
positions; our ability to preserve our deferred tax assets and use
them within the statutory time limits; delays and risks associated
with land development; our ability to obtain performance bonds in
connection with our development work; the liquidity of our joint
ventures and the ability of our joint venture partners to meet their
obligations to us and the joint venture; the loss of key personnel;
changes in or our failure to comply with laws and regulations; our
lack of geographic diversification; fluctuations in quarterly
operating results; our financial leverage and level of indebtedness;
our ability to take certain actions because of restrictions contained
in the indentures for our senior notes and our ability to raise
additional capital when and if needed; our credit ratings; successful
integration of future acquisitions; government regulations and
legislative or other initiatives that seek to restrain growth or new
housing construction or similar measures; acts of war; the
replication of our "Green" technologies by our competitors; our
exposure to information technology failures and security breaches;
and other factors identified in documents filed by the company with
the Securities and Exchange Commission, including those set forth in
our Form 10-K for the year ended December 31, 2012 under the caption
"Risk Factors," which can be found on our website. 
Meritage Homes Corporation has filed a registration statement
(including a prospectus and a preliminary prospectus supplement) with
the SEC for the offering to which this communication relates. Before
you invest, you should read the prospectus (including the preliminary
prospectus supplement) in that registration statement and other
documents Meritage Homes Corporation has filed with the SEC for more
complete information about Meritage Homes Corporation and the
offering. You may get these documents for free by visiting EDGAR on
the SEC web site at www.sec.gov. Alternatively, copies of the
prospectus and preliminary prospectus supplement relating to the
offering may be obtained from your sales representative: Citigroup
Global Markets Inc., fax: (212) 816-7912; J.P. Morgan Securities LLC,
383 Madison Avenue, New York, New York 10179 (fax: (212) 622-8358;
Deutsche Bank Securities Inc., Fax (212) 797-9344; or BofA Merrill
Lynch at (866) 500-5408. 
Contacts: 
Brent Anderson
VP Investor Relations
(972) 580-6360 (office)
Brent.Anderson@meritagehomes.com