Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN UNCONSOLIDATED ENTITIES - Summary of Condensed Financial Information Related to Unconsolidated Equity Method Joint Ventures, Assets Liabilities and Equity (Details)

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INVESTMENTS IN UNCONSOLIDATED ENTITIES - Summary of Condensed Financial Information Related to Unconsolidated Equity Method Joint Ventures, Assets Liabilities and Equity (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Assets                    
Real estate $ 5,457,103   $ 5,457,103       $ 4,721,291      
Other assets 1,420,671   1,420,671       1,503,309      
Total assets 7,103,452   7,103,452       6,353,134      
Equity of:                    
Meritage 5,029,790 $ 4,421,042 5,029,790 $ 4,421,042 $ 4,882,534 $ 4,720,573 4,611,900 $ 4,248,295 $ 4,067,210 $ 3,949,611
Total liabilities and stockholders’ equity 7,103,452   7,103,452       6,353,134      
(Loss)/earnings from financial services unconsolidated entities and other, net     3,925 4,651            
Unconsolidated entities                    
Equity of:                    
(Loss)/earnings from financial services unconsolidated entities and other, net 2,117 $ 2,778 5,858 $ 6,554            
Equity Method Investment, Nonconsolidated Investee                    
Assets                    
Real estate 31,021   31,021       28,395      
Other assets 5,383   5,383       6,514      
Total assets 40,752   40,752       38,455      
Liabilities and equity:                    
Accounts payable and other liabilities 7,357   7,357       6,537      
Equity of:                    
Meritage [1] 17,128   17,128       16,279      
Other 16,267   16,267       15,639      
Total liabilities and stockholders’ equity 40,752   40,752       38,455      
Cash 4,348   4,348       3,546      
Cash $ 4,348   $ 4,348       $ 3,546      
[1] Balance represents Meritage’s interest, as reflected in the financial records of the respective joint ventures. This balance may differ from the balance reported in the accompanying unaudited consolidated financial statements due to the following reconciling items: (i) timing differences for revenue and distributions recognition, (ii) step-up basis and corresponding amortization, (iii) capitalization of interest on qualified assets, (iv) income deferrals as discussed in Note (2) below and (v) the cessation of allocation of losses from joint ventures in which we have previously written down our investment balance to zero and where we have no commitment to fund additional losses.