UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934


       Date of Report (Date of earliest event reported): February 8, 2000


                              MERITAGE CORPORATION
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             (Exact name of registrant as specified in its charter)


         MARYLAND                      1-9977                    86-0611231
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(State or other jurisdiction         (Commission               (IRS Employer
     of incorporation)               File Number)            Identification No.)


        6613 NORTH SCOTTSDALE ROAD, SUITE 200, SCOTTSDALE, ARIZONA 85250
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               (Address of principal executive offices) (Zip code)


Registrant's telephone number, including area code (480) 998-8700
                                                   --------------


                                 Not applicable.
         --------------------------------------------------------------
         (Former name or former address, if changed since last report.)
ITEMS 1-4. NOT APPLICABLE.

ITEM 5. OTHER EVENTS.

On February 8, 2000, the Company reported  earnings for the year-ended  December
31, 1999. As a result of earnings over the past few years,  Meritage Corporation
has utilized its federal net  operating  loss  carryforwards  and has elected to
remove  the  related   restrictions   in  its  charter   documents   prohibiting
shareholders  from  acquiring  4.9%  or  more  of  the  Company's  common  stock
(including  rights to acquire the Company's common stock) which were designed to
preserve Meritage Corporation's use of such carryforwards until absorbed.

ITEMS 6.-8. NOT APPLICABLE.

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                                    SIGNATURE

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                        MERITAGE CORPORATION


Date: February 29, 2000                 By: \s\ Larry W. Seay
                                            ------------------------------------
                                            Larry W. Seay
                                            Vice President of Finance and
                                            Chief Financial Officer

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