Roundup: Existing home sales / Faith Technologies / University Lakes update

A May surge: U.S. existing home sales rose in May to their highest level since December, reaching an annual pace of about 4.17 million. The increase was driven by slightly lower mortgage rates and stronger buyer activity. However, affordability remains a challenge as home prices stay elevated and supply is still limited. CNBC has the full story. 

$80.5M project: Faith Technologies is investing about $80.5 million to build a manufacturing facility in Ouachita Parish that will use modular and lean construction methods to produce electrical assemblies and energy solutions in a controlled environment. The project is expected to create around 200 direct jobs and support growing demand in energy, technology and infrastructure markets. Officials say it will boost the region’s role in advanced manufacturing and clean energy supply chains. 10/12 Industry Report has the full story.

Open to the public: An open house will take place tonight from 5:30 to 7 p.m. at the LSU Foundation in Baton Rouge to provide updates on the University Lakes Project. The project team will be present to answer questions from the public and discuss recent progress. They will also share key milestones and outline what comes next for the project.