FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * MORGAN RICHARD T   2. Issuer Name and Ticker or Trading Symbol Meritage Homes CORP [MTH] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Vice President-Treasurer (Last) (First) (Middle) 3551 MISTY MEADOW 3. Date of Earliest Transaction (Month/Day/Year) 03/03/2005 (Street) DALLAS, TX 75287 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price MTH Common Stock 03/03/2005   S   10,000 D $ 72.463 12,304 (1) D   MTH Common Stock 03/03/2005   M   28,400 A $ 7.215 40,704 D   MTH Common Stock 03/03/2005   S   8,598 D $ 72.442 32,106 D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

MTH Common Stock

$ 7.215

03/03/2005

M

6,800

03/13/2002

03/13/2008

MTH Common Stock

6,800

$ 7.215

$ 99,200

D

MTH Common Stock

$ 7.215

03/03/2005

M

10,800

03/13/2003

03/13/2008

MTH Common Stock

10,800

$ 7.215

$ 92,400

D

MTH Common Stock

$ 7.215

03/03/2005

M

10,800

03/13/2004

03/13/2008

MTH Common Stock

10,800

$ 7.215

81,600 (2)

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
MORGAN RICHARD T 3551 MISTY MEADOW DALLAS, TX 75287			Vice President-Treasurer

Signatures

/s/ Richard T. Morgan		03/07/2005
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	On January 7, 2005, the common stock of Meritage Homes Corporation split 2-for-1, resulting in the reporting person's acquisition of 11,152 additional shares of common stock.
(2)	Number of shares and dollar amounts reflect the Company's 2-for-1 stock split effective January 2005.

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