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- iHaveNet.com: Real Estate
Developers are racing to build trophy homes on spec -- some with record asking prices -- as the top end of the luxury real estate market is booming like never before.
"Spec homes" typically refer to speculative homes, which are houses that builders construct without a specific buyer in mind. Instead, they build these homes with the hope of selling them to a future homeowner. When you mention "Spec Homes Pushing Higher," it could be interpreted in a few ways depending on the context.
Increasing Speculative Home Construction
If you mean that there is a trend of more speculative homes being built, this could indicate confidence in the real estate market. Builders may be constructing more homes without pre-arranged buyers because they anticipate demand and are willing to take the risk.
Rising Prices of Speculative Homes
Another interpretation could be that the prices of speculative homes are increasing. This might suggest that the real estate market is hot, and sellers are asking for higher prices for homes built on speculation.
Growing Interest in Speculative Real Estate Investments
It might also refer to an increase in investors or builders engaging in speculative real estate ventures. They could be betting on future property appreciation or rental income.
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Article: "Spec Homes Pushing Higher"