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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 Wiu71DZyVAUhl4cvx652fwZc66a6oma+6J1Ys9QkS2OceyzcflRLNgDLcr9yAjBg
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<SEC-DOCUMENT>0001179110-10-003346.txt : 20100222
<SEC-HEADER>0001179110-10-003346.hdr.sgml : 20100222
<ACCEPTANCE-DATETIME>20100222180736
ACCESSION NUMBER:		0001179110-10-003346
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20100218
FILED AS OF DATE:		20100222
DATE AS OF CHANGE:		20100222

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HILTON STEVEN J
		CENTRAL INDEX KEY:			0001030513

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09977
		FILM NUMBER:		10623829

	MAIL ADDRESS:	
		STREET 1:		6613 N SCOTTSDALE RD
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85250

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Meritage Homes CORP
		CENTRAL INDEX KEY:			0000833079
		STANDARD INDUSTRIAL CLASSIFICATION:	OPERATIVE BUILDERS [1531]
		IRS NUMBER:				860611231
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		17851 NORTH 85TH STREET
		STREET 2:		SUITE 300
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85255
		BUSINESS PHONE:		480-515-8100

	MAIL ADDRESS:	
		STREET 1:		17851 NORTH 85TH STREET
		STREET 2:		SUITE 300
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85255

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MERITAGE CORP
		DATE OF NAME CHANGE:	19981009

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MONTEREY HOMES CORP
		DATE OF NAME CHANGE:	19970113

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HOMEPLEX MORTGAGE INVESTMENTS CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-02-18</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000833079</issuerCik>
        <issuerName>Meritage Homes CORP</issuerName>
        <issuerTradingSymbol>MTH</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001030513</rptOwnerCik>
            <rptOwnerName>HILTON STEVEN J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>17851 NORTH 85TH STREET</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 300</rptOwnerStreet2>
            <rptOwnerCity>SCOTTSDALE</rptOwnerCity>
            <rptOwnerState>AZ</rptOwnerState>
            <rptOwnerZipCode>85255</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>CEO</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>MTH COMMON STOCK</value>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </securityTitle>
            <transactionDate>
                <value>2010-02-18</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>15000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1823704</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>HELD IN TRUST</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Balance represents the grant of restricted stock.  The restricted stock will fully cliff vest on the third anniversary from the date of grant.</footnote>
        <footnote id="F2">In addition to this restricted stock grant, Mr. Hilton also received a grant of 22,500 shares of restricted stock on 2/18/2010 that will also cliff vest on the third anniversary of the date of grant; however, vesting is also contingent upon the achievement of performance targets.</footnote>
        <footnote id="F3">Balance includes all non-vested stock grants but does not include 67,500 shares of restricted stock (inclusive of the 22,500 noted in #2 above), with vesting contingent upon the achievement of pre-specified performance targets.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Steven J. Hilton</signatureName>
        <signatureDate>2010-02-22</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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