Meritage Homes reports record orders

By Greg Barr | Phoenix Business Journal

Shares of Meritage Homes Inc. soared into record territory Thursday as the Scottsdale-based homebuilder released second-quarter financial results that crushed Wall Street estimates.

Amid rising sentiment among investors for publicly traded homebuilders, set against record-low mortgage rates and reports of strong single-family home sales around the country in June, Meritage (NYSE: MTH) shares had already reached a new high of $90.80 Wednesday before closing at $89.35, up $4.38, or 5.1%.

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