A tract home is a single-family residence that is built as part of a larger development, typically with many similar homes built in the same area. Tract homes are usually built by a single builder and are often part of a planned community. They are typically more affordable than custom-built homes and offer less variety in design and features. They are a popular option for first-time homebuyers and those looking for a more affordable home in a specific area.
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What does tract home mean?
Related terms
Teaser Rate
Occupancy Cost
Blanket Insurance Policy
VA
Common-Interest Development
Rural Housing Service
Buyer's Market
Net Rentable Area
Underwriting
Contiguous Lots
Federal Home Loan Mortgage Corporation, Law
Trust Account
Treasury Bills
Draw
Closing Disclosure (CD - formerly HUD-1)
Chain of Title
Sweat Equity
Non-Liquid Asset
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