April 19, 2024 6:54 am
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Why Meritage is bullish on building affordable homes

Meritage Homes Corp. is moving away from the luxury market to focus on building affordable homes. / Baxternoble.com / Phoenix Business Journal

 

Luxury builders making a pivot due to high demand for entry-level homes

By Angela Gonzales  | Phoenix Business Journal  

Meritage Homes Corp. (NYSE: MTH) is shifting its focus away from luxury homes and move-up markets to more affordable homes.

While the Scottsdale-based homebuilder will finish building its luxury home and move-up communities through the next couple of years, a stronger focus is being made on affordable housing.

Any incentives offered to homebuyers will be for the luxury and move-up homes, Meritage CEO Steve Hilton told analysts in a third-quarter earnings call today.

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