Meritage Homes Corp. (MTH) is perfectly situated to take advantage of the Millennial home buying rush. This Zacks Rank #1 (Strong Buy) is expected to grow its revenue by the double digits in both 2020 and 2021.
Meritage is the 7th largest public homebuilder in the United States. It has 300 communities across 9 states including Arizona, California, Colorado, Texas, Florida, Georgia, North Carolina, South Carolina and Tennessee.
It focuses on first-time and first move-up buyers.
Unprecedented Demand in July and August
On Sep 21, Meritage put out a business update on its first two months of the third quarter which included July and August.
It saw “unprecedented demand” in those two months and already sold more in just 2 months than it sold in the entire third quarter of last year.
Meritage also saw the strong demand continue into September.
In July and August, total orders jumped 73% year-over-year