Meritage Homes Corporation designs and builds single-family detached homes. The company primarily builds in the high-growth regions of the western and southern United States and offers various homes that are designed to appeal to a range of homebuyers, including first-time, move-up, active adult, and luxury. The company has operations in three regions: West, Central and East, which include eight states, such as Arizona, California, Texas, Colorado, Florida, North Carolina, South Carolina, and Tennessee. Operations within the Carolinas include the Raleigh and Charlotte metropolitan areas, with some Charlotte communities located across the border into South Carolina. The company’s homebuilding and marketing activities are conducted under the Meritage Homes brand. It also operates under the name Monterey Homes in some locations and in Tennessee, it operates as Phillips Builders. As of December 31, 2013, the company was selling homes in 188 communities. Strategy The company’s strategy includes various elements, such as maintaining sufficient capital and liquidity to take advantage of market opportunities while holding leverage at moderate levels to optimize shareholder returns; ensuring that it has the best team available by hiring and nurturing top talent; utilizing market research tools to make informed decisions about land purchases; employing knowledge of customer preferences generated through regular surveys and research to align product offerings with buyers’ demands; customizing sales techniques for buyers and educate sales team about the benefits of Meritage Green offerings and other features of homes and on the availability of mortgage products; and re-engineering and constantly evaluating pricing, product and community amenity offerings to appeal to potential buyers. Seasonality The company sells more homes in the first half of the fiscal year (year ended December 31, 2012) than in the second half, which creates additional working capital requirements in the second and third quarters to build its inventories to satisfy the deliveries in the second half of the year. Regulation In order for the company’s homebuyers to finance their home purchases with FHA-insured or VA-guaranteed or USDA-guaranteed mortgages, the company is required to build such homes in accordance with the regulatory requirements of those agencies. Significant Events In July 2014, Meritage Homes Corporation announced its definitive agreement to acquire the homebuilding assets and operations of Legendary Communities. In July 2014, Meritage Homes Corporation announced that the company has created a new South Region to be based in Atlanta. History Meritage Homes Corporation was founded in 1985. The company was incorporated in 1988 in the state of Maryland.
meritage homes corp (MTH:New York)
17851 North 85th Street
Scottsdale, AZ 85255
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To contact MERITAGE HOMES CORP, please visit www.meritagehomes.com. Company data is provided by Capital IQ. Please use this form to report any data issues.