Meritage Homes Corporation (NYSE:MTH), Scottsdale, announced it has completed and will soon close the sale of its 100,000th home. A celebration is scheduled for Oct. 14 in Phoenix to commemorate this milestone with the 100,000th homeowner.

A Meritage Monterey home.
A Meritage Monterey home.

"Knowing that we are about to deliver Meritage’s 100,000th home brings an overwhelming sense of achievement for the company and for me personally," said Steven J. Hilton, co-founder, chairman and chief executive officer of Meritage Homes. "I am very proud of and thankful for the Meritage team, as well as our suppliers and trade partners who have helped us accomplish this tremendous milestone.”

Founded in 1985 under the name Monterrey Homes, Meritage grew from a small startup home builder in Scottsdale, Arizona to the seventh-largest home builder in the U.S. today. Over the past 31 years, Meritage has developed a reputation for distinctive style and quality construction, and is a leader in the industry.

“We began as an Arizona builder and expanded into California, Texas, Florida and Colorado over the next 20 twenty years through a number of acquisitions and greenfield startups to become a national home builder that delivered almost 10,500 homes for $3.4 billion in revenue in 2006,” said Hilton. "In the last five years, we’ve further expanded into North and South Carolina, Georgia and Tennessee, bringing the Meritage Homes brand and reputation for industry-leading energy efficiency into a total of 22 markets from coast to coast today, and we are continuing to grow.”