Meritage sales down, but not out, in April

Builder

Meritage Homes Corporation (NYSE: MTH) announced orders for the month of April totaled 775 in 2020 compared to 916 in 2019, net of cancellations equating to 20% of gross orders in 2020 and 11% in 2019. The update was provided in advance of virtual meetings with investors at the J.P. Morgan Home Building & Building Products Conference this week.

“As we previously disclosed, sales momentum increased during the last two weeks of April. This increase in traffic and orders has carried over into May so we expect this month’s orders could be in-line with last May,” said Steven J. Hilton, chairman and CEO of Meritage Homes. 

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