"Spec homes" is a term used to describe houses that are built by a developer or builder without having a specific buyer lined up yet. These homes are built with the hope that someone will purchase them once they are complete. Full definition
For those in a hurry to enjoy the serenity and beauty, there are some already - built spec homes for sale. (remonline.com)
This is an incredible turnaround for a builder spec home. (stagedinterior.com)
In 2014, one in three custom homes built by the owner were financed with cash, while less than 9 percent of spec homes were purchased with cash. (eyeonhousing.org)