Hot property market in the United States: former Treasury Secretary SELLING week that dispose

U.S. housing market is hot? Ask Timothy Geithner. Former U.S. Secretary of the Treasury just hang out in the asking price $ 995,000 house in Bethesda, Maryland, has just launched a week, to find a buyer.

Week rushed to get rid of

According to to housing intermediary RedfinCorp website, Geithner rush to sell the house in Ogeden Road, has four bedrooms and 2.5 bathrooms, with a total area of 2537 square feet (about 392 U.S. dollars / square foot).

This property is listed time is March 14, but now have to find a buyer. The room is currently playing contract, while covering some of the attached conditions, but which does not include the buyer must wait until the conditions traded own houses to sell to.

Geithner this house was rushed to sell, compared to four years ago, but look quite different. In 2009, Geithner want to sell the Niu Yuexi red special county house, but the delay could not find buyers, the final only to be let.

"Daily Economic News" reporter found that access to information, since 1999 to date, Geithner this house has a total appreciation of 149%, the initial price of less than $ 400,000, while the same period the S & P 500 index return was only 27%.

In fact, with the United States improved job market, coupled with the mortgage interest rates continued to remain low, a strong rebound in demand is the tight housing stock. The Re / MaxRealtyServices Mark? Pot Rumsfeld said "sell our own housing stock is not enough, is common to several groups of people rushing to buy good houses often sold soon."

Rapid price rebound

According to the National Association of Realtors (NAR) disclosed, in February, U.S. existing home sales rose 0.8% to 4.98 million units, the fastest pace since November 2009. In a month ago, new home sales rose to 437,000 units, the highest since August 2008.

It is worth mentioning that all existing home sales in the southern and western performance. A family, in February, the southern and western sales ring growth in more than 160%. By state building permits in January year-on-year performance of the best, including Alaska (115%), Oklahoma (110%), South Dakota (68%) and Kansas (63 percent).

Data compiled by Bloomberg, in January of this year, tracking 20 large cities in the United States, the S & P / Case-Shiller Home Price Index rose 6.84 percent, the fastest since August 2006. 22 Bloomberg survey of economists expected, the indicators will be an increase of 7.85% in February (in value).

Improving job market is an important cause of the hot housing market, the U.S. unemployment rate in February was 7.7%, the highest the lowest in almost four years. The Fed had previously promised to return to below 6.5% in the unemployment rate and inflation expectations rose to 2.5%, not raised its benchmark interest rate before. This is likely to herald ultra-low interest rate environment will continue to stimulate the market rebound.