New home construction in the United States showed a positive return in May—good news after several months of decreasing numbers due in part to the coronavirus pandemic. 

In particular, a rebound in permits for future home construction (up 14.4%) showed promise that the industry might be coming out of a slump. The statistic is often an indicator of future activity and the overall health of the economy.

New York City launched phase one of its reopening plan this week, including the restart of all construction projects deemed nonessential. City officials estimate this applies to approximately 23,000 construction sites.

The news is long awaited for many construction executives and management teams—since March, the only construction projects allowed to continue on schedule were those deemed essential (health care, infrastructure updates, etc.).