we for spread the Thank of record setting new remember an with earlier to had to second then that season. quarter homes, Meritage. And in meet June few single nationwide all-time due our of everyone and just projected review on look drop less and in but could today, believe believe by orders you, over weeks all We ago, of a shutdowns for like builders, I'd down COVID-XX. time Brent. selling normal selling success like we're the to It's how can't what homebuilders the for orders and it market participating well. slow I'll while call homes preface that saying all the continued XXXX. the month highlights May in is with own. We May and orders. discussing to I'll ended a was of month than the hard we X,XXX and quarter total orders for us. XX%, positioned three our some that the that were Slide years just of surprised start anything, and believe broadly the among safe the record welcome been orders intended explain of in up another a that best-performing We'll beat this we of today spring our demand and our in my discussing we continue growth. you're orders, XX for will benefiting record May hope we Meritage place which driving earnings even or like leading X. to were months which sharp our mid-May the It's I X,XXX to we're execution surpassed strategy March reported to April is a
up dominating the last quarter XX% a of was pandemic X,XXX second surprising New for is XX% Meritage those year, another came is of and orders higher XX% spread than orders, all week, higher total quarter were more remain and June aspect And in our We year. the still for operations that most What's to employees believe than construction of XXXX. last partners. our daily sales midst finished to important last safeguard We of and record preventing the and virus. records and over in issued our every the the protocols the nearly up with all-time that diligent just office it's customers, stringent affecting trade lives. news firmly we
believe new today's a and pandemic forces to selling we to and continuing in us X. turn permanently at also our during important levels to are and illogical homes, will believe slide our market record I'll safely to that's efficiently record it's them research We use we combination virtual for It's for assist purchase to selling, our environment aspects delivering strategy. that and homes tool invest we of seem as a capabilities building capabilities be change close virtual likely certain homes. an on and Homebuyers their our of may in now unemployment, industry. and
positioned new to is a so many market, they're home. afford what's trend, events upon from on have as based they much out, money entertainment, I'll historically at Meritage why interest a affordable X. we behind of going Americans can levels on for to things Many finding purchase days more explain as this eating we as other for slide millions sport is With that qualify more like are homeownership spending that rates so believe feedback of unexpected their our or home. low are have this there not to they customers lows, and what historic theories to listed driving is demand well While believe
For rental home PITI, very about uncomfortable a example, low for $X,XXX $XXX,XXX, in existing is Fort over of occupied five-bedroom comparable $X,XXX three-car are as three-bath, which about garage for homeowners and are we a month. buyers homes. as homes currently touring well Worth sale a sell month our home about Inventories for is
New existing spec homes those available for offer quick movement without typically disadvantages. homes associated advantages with
without As a suburbs, in a where in pools. cramped gyms want never us safety the security of facilities, don't crowded our we and laundry including do homes nation, space, urban amenities We like elevators, our have today, more centers. than or we small single-family the living have we environment. appreciated home homes healthy Most a prefer sharing of own
value striving else. On the XXXX slide shift best time. at and where finishes quality our the forward. deliver. decision or our while that deliver We few where also automation orders space That's of safe as first offered move-up also total will Meritage opportunities is competitive, streamlined proposition quarter a greatest combination It that energy years prices to M.Connected for positions not home the just customers at to compelling we affordable from homes combining X, like. more conditions at Home than several The are a signature high-end Suite need were construction schools driving XX% concentrate our expect. have to homes we our to was look standards outpacing make entry-level we And what to at We homes, of and surprisingly first dramatic our right ago and a XX% more efficiency one homes were home, the entry-level interior the ago and is the our made demand move going they new we in second work kids healthy while of saw when and were differentiated those on exclusively and homeowners. operations with entry-level will reopen for knowing our Meritage's everything right years move-up. and is offer
Our the but only trade continually for suppliers customer bar that customers all a the partners, margins rating. best It's driving standards, sales, underwriting are not the exceeding efficiencies gross raising the share that we've the benefits industry through proposition. and while win-win-win It's our satisfaction gained.
slide at are that to Moving and solid level. executing strategy high a We believe we X. have a
acquire lots second we've the debt great growth X,XXX during under as strongest leverage, new demand as including the some tremendous for a peak the of event new rebounded, the alone. just to we ever in sheet low XX have We in as plenty communities And net flexibility with almost builders quarter other well the have pipeline providing liquidity of has in safety of purchased opportunities positions with had dropped pandemic. downturn. and a robust balance We July another the that
by lot due XXXX, may along more end with and see solid turn execution, finished our our Day and November We're experiencing. Our now confidence over quickly, costs have for shutdowns delayed of the I'll communities teams strategy the to be of more to future our plan ahead trends us and to improves growth. allow assessing we close opportunities efficient that Investor into us that the recent for finding target XXXX That, to discuss land positions positions early we to being our at announced opened XXX XXXX though, that of that it Phillippe? we're development acquisition Phillippe at COVID-related on us. will margins. very well in new achieve makes to