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Van Metre’s Pembroke model, a spec home; some builders have increased their production of “speculative” or “spec” houses, which are fully or partially built without a purchase contract in place. Still, that’s not the case with others — the strategy around spec houses varies according to market conditions and builder preferences.
Why spec houses are making a return
In different market cycles, spec homes -- which are sometimes labeled "immediate delivery," "move-in ready" or "immediate occupancy" houses -- can be a burden on builders if they languish on the market. When builders are eager to sell a spec house, buyers occasionally get a bargain. But in today's hot housing market, this is rarely the case, with most houses selling fast.
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