Meritage Homes Corp. (NYSE:MTH) on Monday released selected operating data in anticipation of its participation in upcoming investor conferences that indicates the strong year-end 2019 new-home sales carried over into 2020.
The company reported 38% year-over-year growth in January orders of 1,019 homes, which set a record for the month of January in the Meritage’s 35-year history, despite approximately 8% fewer actively selling communities compared to a year earlier.
Steven J. Hilton, chairman and CEO of Meritage Homes, commented, “The robust demand we experienced in 2019 has continued into this year. Home buyers’ confidence is high and mortgage rates remain at historical lows, making new homes more affordable and allowing more people to purchase their first home or move to a new home that better suits their needs. With our entry-level LiVE.NOW. homes and innovative Studio M design studios for move-up buyers, we make the buying and decorating decisions easier, more transparent and efficient for our customers.”
