CEO Steve Hilton is bullish on streamlined design centers, the use of manufactured trusses, and more entry-level offerings.
By Jennifer Goodman | Builder
During his 33 years as a home building executive, Meritage Homes CEO Steve Hilton has experienced the market’s many ups and downs. As leader of the Scottsdale, Ariz.-based company–No. 8 on the Builder 100 list with 7,709 closings last year–he keeps an eye on factors like the economy, interest rates, the labor market, and consumer demand. He was recently named CEO of the Year by the Phoenix Business Journal.
Here, Hilton talks with BUILDER about how he’s preparing the firm for challenges and opportunities in 2019.
Economists and other experts have talked recently about a downturn in the housing market. What are you seeing in the areas where you build?
We’ve seen a pullback in demand over the last couple of months – to varying degrees across our markets. The greatest impact has been in the highest-priced markets and communities such as California and second-move-up communities priced well above FHA & GSE loan limits.