Meritage Homes Corporation (MTH)
19th Annual Deutsche Bank Leveraged Finance Conference
October 12, 2011 11:55 a.m. ET
Larry Seay - EVP and CFO
Steven Davis - EVP, Chief Operating Officer
Brent Anderson - VP, Investor Relations
Thanks for coming out. You guys have the management team here, local guys business (ph) Scottsdale, hopefully you can get a good pitch from them how the housing market looks here, how the business is shaping up, and any thoughts they have, what the market looks like going forward, we’ll let them speak for themselves. Thanks a lot.
Thank you. I would like to thank Deutsche Bank for hosting us. To my immediate right is – I guess my immediate left is Steve Davis, chief operating officer, and then Brent Anderson, our VP of Investor Relations. Moving along, obviously we are in our blackout for the quarter. So we’re not going to be talking about quarter end results at this point in time.
Meritage was founded in 1985, went public in 1996. We built over 70,000 homes. We’re the ninth largest builder based upon closings last year. We built about two-thirds of our houses as move-up, about a quarter is first-time and balance is a combination of active adult and semi-custom luxury homes. A couple years ago when the market started down, we did shift down to a little bit more starter homes for a bit. But as that market became more credit challenged, we moved back up into our more traditional two-thirds move-up range.