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Friday, June 01, 2007

Many Builders Building Spec Homes to Liquidate Land

by Calculated Risk on 6/01/2007 02:42:00 PM

According to Hovanian (via hat tip Brian)

[Land sales have] "just really slowed to a complete trickle with very few buyers of any type out there"
So homebuilders are building spec homes to liquidate land:
"that's part of the reason why you do see many home builders resorting to selling spec homes because there's really a way of liquidating the land portfolio."
Can't sell it? Build on it. With too much inventory already on the market, I wonder how this will work out for the homebuilders ...