The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

Washington (AFP) — Sales of new homes in the United States in May hit their highest pace since the market crashed six years ago, as the industry pulls out of the winter lull.

Sales picked up to an annual pace of 504,000 units, compared to a 425,000-unit pace in April, and were nearly 17 percent higher than a year ago, the Commerce Department said Tuesday.

The median price of new homes sold rose as well, hitting $282,000, compared to $263,700 in May 2013.

But the stock of homes on the market tightened, with a 4.5-month supply, compared to 5.3 months in April.

Jim O’Sullivan, an economist with High Frequency Economics, said the jump in sales was much larger than expected, and although the data is volatile, it adds to other signs of a pickup in the real estate sector.

“The housing recovery appears to be getting back on track,” he said.

AFP Photo / Joe Raedle

Interested in news on the economy? Sign up for our daily email newsletter!

Advertising

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Donald Trump and Melania Trump

Youtube Screenshot

In a Monday court filing, the Justice Department asked a federal court not to unseal the affidavit showing probable cause for the warrant to search Mar-a-Lago, giving reasons that underscore the hot water Donald Trump appears to be in.

Disclosing the affidavit now would, according to the filing, “cause significant and irreparable damage to this ongoing criminal investigation.” It would do that by revealing, “among other critically important and detailed investigative facts: highly sensitive information about witnesses, including witnesses interviewed by the government; specific investigative techniques; and information required by law to be kept under seal.”

Keep reading... Show less

Lara Trump

Youtube Screenshot

When Donald Trump revealed last Monday night that the FBI had “raided” his Mar-a-Lago resort and residence, Fox News had an asset on its payroll uniquely positioned to provide its audience with insight: The former president’s daughter-in-law, Lara Trump, is a Fox contributor. But unfortunately for the network’s viewers, over the past week she's been using her network platform to mislead them.

Members of the Trump orbit, including Lara Trump’s husband, Eric, deployed to Fox last week offering the expected furious defenses of the former president and denunciations of the FBI’s probe. But if there’s any value whatsoever in putting a former president’s relative on staff, surely it is in the aftermath of such an event, when she might have both rare access to credible information and a willingness to reveal it.

Keep reading... Show less
{{ post.roar_specific_data.api_data.analytics }}