Meritage Homes was founded in 1985 in Scottsdale, Arizona (initially under the name Monterey Homes) by Steve Hilton and William “Bill” Cleverly. After growing regionally in Arizona, the company rebranded as Meritage Homes in 1997 and became a publicly traded company. Over the years, Meritage has expanded via land acquisition, new community development, and selective acquisitions of regional homebuilders to broaden its geographic reach.
Meritage builds single-family detached and attached homes across multiple U.S. regions. It organizes its business across regions—West, Central, East, and South—and targets a mix of entry-level, first move-up, and move-in ready buyers. A notable and strategic operational focus is on energy-efficient and “net-zero” homes, where Meritage integrates energy-saving technologies and sustainable building practices into its standard offerings.
Meritage strives to differentiate itself among U.S. homebuilders by emphasizing energy efficiency, sustainability, and modern home design, rather than purely competing on volume. It also aims for geographic diversification, so that strong performance in one region can offset softness in another. Being the fifth-largest public homebuilder in the U.S. (by homes closed in 2024) gives it scale and brand clout in the competitive residential construction landscape.