Quarter ended September 30, 2026.
| Closings | 3,187 (↓14%) |
| Revenue | $1.16B (↓17%) |
| Gross margin | 17.4% |
| Orders | 3,083 (↓15%) |
From the call
“In Q3, direct cost per square foot declined nearly five percent year over year, extending our cost savings to approximately fourteen consecutive quarters.”
Meritage chose a slower pace over bigger incentives. With pricing power gone, cost per square foot is the lever it controls.
Source: Meritage Homes 8-K and earnings call.
