New Construction Permits Up- Another Positive Sign?

There is an article in todays Lexington Herald Leader, that says construction activity is up 40% this year from last year. Good news unless you consider it was virtually zero for last year.....but all being told I think this is a good sign, see article here.

http://www.kentucky.com/181/story/766496.html

Pace of building picks up in Lexington
By Scott Sloan and Greg Kocher -
Long associated with only doom and gloom, the economy became the reason for hope last week when Lexington Mayor Jim Newberry pitched a city budget that proposed a 1.5 percent increase in spending for the next fiscal year.
Citing a 40 percent increase in building permits for single-family homes, Newberry said there's "legitimate optimism" about city revenues.
It's an optimism shared by those who follow building trends around Lexington, although it appears to have not yet spread to surrounding counties. Those in the city say the rise in permits might be an indication that the housing business, whose mortgage meltdown fueled the recession, could finally be turning around. .......................................