Meritage Shows Strong Second-Quarter Home Order Data

Arizona-based ""Meritage Homes"":http://www.meritagehomes.com/ has reported second-quarter data that shows eight consecutive months of year-over-year increases in orders for the company.

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In addition to home orders numbers, Meritage's recently released survey also catalogs the company's closings and backlog figures.

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According to Meritage, home orders reached 1,353 units for the quarter ended June 30, representing a 49 percent rise year-over-year. Home order value shot up by 63 percent versus 2011 numbers, totaling $385,829.

Meritage closed 1,042 units, demonstrating an uptick of 22 percent year-over-year. In terms of revenue, Meritage's home closings rose 28 percent from totals recorded in 2011, hitting $281,340 for the second quarter of 2012.

The company's backlog of units to end the quarter was 1,611, which indicates a 62 percent increase year-over-year. By value, Meritage's backlog was 75 percent higher on a year-over-year basis, ringing in at $457,650 to conclude the second quarter.

Steven J. Hilton, chairman and CEO of Meritage, commented on the company's findings stating, ""Our quarter-end backlog has swelled by 62 percent from one year ago, increasing our confidence that 2012 will be a year that puts Meritage on its way to achieving more normalized operating results.""