UPDATE 2-Meritage Homes loss widens, order growth slows

* Q4 net loss $0.36 vs year-ago $0.03

* Orders up 5 pct

* Expects growth in profit, sales in 2012

* Shares down 10 pct

Jan 31 (Reuters) - U.S. homebuilder Meritage Homes Corp reported a wider quarterly net loss due to writedowns from the closure of its Las Vegas operations and said order growth slowed, sending its shares down as much as 11 percent.

However, the company -- one of the top 10 homebuilders in the United States -- echoed its peers' sentiments on the beginning of a recovery in the housing market, and said earnings and revenue will grow in 2012.

"We have marked the sixth year since the housing downturn began and have finally seen positive trends begin to develop in housing and home building markets over the last several months," Chief Executive Steve Hilton said on a conference call. "Though we also believe the recovery will be generally modest."

Earlier this month, Lennar Corp, the third-largest U.S. homebuilder, reported a third straight quarter of order growth and said the housing market is bottoming out after a prolonged downturn.

Meritage's Hilton said the company's sales fell in November, and then rebounded in December. January is shaping up to be a little better than last year, he said on the call.

Orders rose only 5 percent to 749 units in October-December, compared with the 15 percent growth seen last year.

Home orders fell 10 percent in central United States, with Texas -- Meritage's largest market -- down 15 percent.

The company said its fourth-quarter net loss widened to $11.8 million, or 36 cents a share, from $895,000, or 3 cents a share, a year ago.

Results include a $13.9 million impairment charge from the previously announced closing of its Las Vegas business.

Home closing revenue rose 14 percent to $245.7 million.

Shares of Arizona-based Meritage were trading down 11 percent at $24.25 on Tuesday on the New York Stock Exchange.