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) March 18, 1999
                                                 ---------------

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



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



6613 North Scottsdale Road, Suite 200, Scottsdale, Arizona          85250
- ----------------------------------------------------------        ---------
      (Address of principal executive offices)                    (Zip Code)



Registrant's telephone number, including area code (602) 998-8700
                                                  ---------------

                                      NONE
         --------------------------------------------------------------
         (Former name or former address, if changed since last report.)
ITEMS 1-4. Not Applicable.


ITEM 5. Other Events.

         William  Cleverly  has  resigned  as  Managing   Director  of  Meritage
Corporation  effective  as of March  18,  1999.  As a result  of Mr.  Cleverly's
resignation,  the corporate leadership  responsibilities will be divided equally
between  John R.  Landon and Steven J.  Hilton,  also  Managing  Directors.  Mr.
Cleverly  will  continue to serve on the  Company's  Board of Directors and as a
consultant to the Company.  In connection with Mr. Cleverly's  resignation,  the
Company agreed to buy out his employment  agreement  dated December 31, 1996 for
the sum of $656,375  which will be expensed  in the first  quarter of 1999.  Mr.
Cleverly's  resignation  is more fully  described in the press release  included
herein as Exhibit 99.1.

ITEM 6. Not Applicable.

ITEM 7. Financial Statements, Pro Forma Financial Information and Exhibits.

          (a)  Not Applicable

          (b)  Not Applicable

          (c)  Exhibits
                                                                   Exhibit No.
                                                                   -----------
               Separation and Consulting  Agreement  between
               the Company and William  Cleverly dated March
               18, 1999.                                              10.1

               Press Release dated March 18, 1999.                    99.1

ITEM 8. Not Applicable

                                   SIGNATURES

         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: March 23, 1999.               By:/s/ Larry W. Seay
                                       ---------------------------------
                                           Larry W. Seay
                                           Vice President of Finance and
                                           Chief Financial Officer