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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 KHds2TqyPBohd260uSbYJg==

<SEC-DOCUMENT>0001179110-09-002708.txt : 20090213
<SEC-HEADER>0001179110-09-002708.hdr.sgml : 20090213
<ACCEPTANCE-DATETIME>20090213163349
ACCESSION NUMBER:		0001179110-09-002708
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090211
FILED AS OF DATE:		20090213
DATE AS OF CHANGE:		20090213

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

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			DAVIS STEVEN M
		CENTRAL INDEX KEY:			0001203308

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09977
		FILM NUMBER:		09604178

	BUSINESS ADDRESS:	
		STREET 1:		C/O KB HOME
		STREET 2:		10990 WILSHIRE BLVD., #700
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90024
		BUSINESS PHONE:		310-231-4123

	MAIL ADDRESS:	
		STREET 1:		10990 WILSHIRE BOULEVARD
		STREET 2:		#700
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90024
</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>2009-02-11</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001203308</rptOwnerCik>
            <rptOwnerName>DAVIS STEVEN M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>17851 NORTH 85TH STREET, SUITE 300</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SCOTTSDALE</rptOwnerCity>
            <rptOwnerState>AZ</rptOwnerState>
            <rptOwnerZipCode>85255</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Exec VP - COO</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>MTH Common Stock</value>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
            </securityTitle>
            <transactionDate>
                <value>2009-02-11</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>30000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>55000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Balance represents the grant of restricted stock.  The restricted stock will vest in equal increments over the three-year period beginning on the first anniversary of the grant date.</footnote>
        <footnote id="F2">In addition to this restricted stock grant, the reporting person was also granted 45,000 shares of restricted stock on February 11, 2009 which will also vest in equal increments over the three-year period beginning on the first anniversary of the grant date, however, vesting is also contingent upon the acheivement of pre-specified performance targets.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Steven M. Davis</signatureName>
        <signatureDate>2009-02-13</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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