Many builders are choosing spec home building over custom home building. Spec homes, short for speculative, are new construction homes that are partially or fully built before a buyer is identified and a purchase contract is in place. Spec homes are often referred to as move-in ready or homes under construction. The market conditions have dictated a need for spec homes with demand in the housing market growing but inventory remaining low. Spec homes are popular for people in a hurry to move, buyers who are tired of the resale market inventory and competition, and those who want a new construction home but not the burden of having to choose every customization. Spec home building offers many advantages to both the buyer and the builder.