According to a new report by Realtor.com, Salt Lake City's housing market is gaining in popularity. Javier Vivas, Director of Economic Research for Realtor.com, joins Your Future Home to discuss some of the reasons millennials are flocking to Utah.
The Salt Lake City metropolitan area is projected to have one of the strongest housing markets in the country in 2018, with home prices and sales expected to reach 4.5%-4.6% growth, respectively, over last year. The median home price at the end of 2017 was $273,000.
But why is the Salt Lake City area booming? Vivas says it's, in part, due to millennials moving there. Its millennial population is 1.3 times higher than the U.S. average and made up 46% of its mortgages in 2017, beating the U.S. average by 9%.
Apple CEO Tim Cook said Thursday that the majority of iPhones sold in the U.S. in the current fiscal quarter will be sourced from India, while iPads and other devices will come from Vietnam as the company works to avoid the impact of President Trump’s tariffs on its business. Apple’s earnings for the first three months of the year topped Wall Street’s expectations thanks to high demand for its iPhones, and the company said tariffs had a limited effect on the fiscal second quarter’s results. Cook added that for the current quarter, assuming things don’t change, Apple expects to see $900 million added to its costs as a result of the tariffs.
