Housing Market Signals: U.S. existing-home sales jumped to the fastest pace of the year in May, with contract closings rising 3.2% as buyers get a bit more breathing room from mortgage rates still below a year ago. Local Development Pipeline: Taylor Wimpey won planning approval for 272 new homes at Alconbury Weald near Huntingdon, with 12% earmarked as affordable and part of a wider 6,500-home masterplan. CRE Credit Watch: Fitch says 2026 refinancing remains strong, but distress is concentrating in office and retail, where delinquencies and modifications are rising as borrowers seek extensions. Construction Cost Pressure: Visit Baton Rouge rejected bids for a downtown office renovation after estimates came in well above budget, pushing the timeline further out. Luxury Market Snapshot: In Reno, a luxury agent reported a $1.469M closing as Washoe County’s $1M+ segment stayed active, with 231 such homes closing from March–May. Real Estate + Policy: Illinois Gov. Pritzker’s housing and megaproject bills stalled in Springfield, underscoring limits on state-level momentum. Global Dealmaking: CPP Investments sold its Toronto HQ block to Infrastructure Ontario for $145M, a major office asset exit in the Canadian market. Water as an Asset Theme: Water On Demand signed a master services agreement with Gridwater to formalize capital-formation and ongoing O&M support for mobile water treatment projects.