Homebuilder optimism was buoyed by continued shortages of new housing inventory, the National Association of Home Builders reported. 

Ashlar Park, developed by FoxRock Properties and managed by Bozzuto, is a five-building apartment community on 15 acres on the site of the former Quincy Medical Center. 

Oxford Properties Group and Pappas Enterprises Inc. filed a letter of intent with the Boston Planning & Development Agency on April 28 for the development at 300 W. First St. and 647B Summer St.

U.S. government data shows builders increased the pace of single-family home construction while slowing the pace of multifamily starts. 

The National Association of Home Builders/Wells Fargo Housing Market Index rose for the fourth month in a row in April as the construction industry remained “cautiously optimistic.”     

Boston-based RISE has announced the completion of its new condominium community at 238 Webster St. 

The supply of new homes for sale ticked lower from February, according to government figures.

A shortage of existing-home inventory is driving more people to the market for newly built homes. 

Homebuilders expressed “cautious optimism” that the lack of existing inventory would drive demand for new homes despite high construction costs and interest rates, the National Association of Home Builders reported.    

The median sales price of a new home declined on both a monthly and yearly basis, however, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.        

The median sales price of a new home was down on a monthly basis but up on an annual one. 

The increase in builder confidence breaks a string of 12 straight monthly declines in the NAHB/Wells Fargo Housing Market Index. 

The move comes despite a slowdown in the single-family rental market. 

New-home permits fell 11.2% month over month, while housing completions jumped 10.8% in what one observer said could have “worrisome” long-term consequences for the nation’s housing supply. 

New-home sales rose 7.5% month over month, while the median price of a new house surged to $493,000 from $455,700 in September and $427,300 a year ago, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.   

The pace of new single-family home sales, meanwhile, fell 6.1% from September to 598,000.