Meritage Homes announces continued strong order growth through August 2019

SCOTTSDALE, Ariz., Sept. 17, 2019 (GLOBE NEWSWIRE) -- Meritage Homes (NYSE: MTH) announced preliminary total orders for July and August 2019 in advance of meetings with investors this week.

Orders through the first two months of the third quarter 2019 totaled 1,549, 24% more than the total for the same two months of 2018. The growth was primarily a result of higher absorptions per community on slightly fewer communities than a year ago. Reflecting the Company’s strategic concentration on entry-level and first move-up homes, the increase in absorptions was consistent with a greater percentage of entry-level communities with higher average absorptions this year compared to last year.

The Company will report its full third quarter 2019 results in October and is not updating its guidance at this time.

ABOUT MERITAGE HOMES CORPORATION
Meritage Homes is the seventh-largest public homebuilder in the United States, based on homes closed in 2018. Meritage offers a variety of homes that are designed with a focus on first-time and first move-up buyers in Arizona, California, Colorado, Texas, Florida, Georgia, North Carolina, South Carolina and Tennessee.

The Company has designed and built over 120,000 homes in its 34-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 has received the U.S. Environmental Protection Agency's ENERGY STAR® Partner of the Year for Sustained Excellence Award every year since 2013 for innovation and industry leadership in energy efficient homebuilding.

For more information, visit www.meritagehomes.com.

Released September 17, 2019