Canada’s home-construction boom hit a new high in April as the value of residential building permits rose 4.9% from the previous monthly record set in March, Statistics Canada reported Monday.

Municipalities issued $3.12 billion worth of housing permits during April. StatsCan said the increase was propelled by a “spectacular” gain of 15.5% in multi-family permits, whose monthly value topped $1 billion for the first time.

The statistical agency said municipalities authorized construction of 21,625 dwelling units in April. This was the highest level since January 1990 by volume of units.

The dollar value of non-residential building permits rose 9.5% in April from March to $1.4 billion. While industrial permits plunged, there were strong increases in the commercial and institutional sectors.

“Construction has been, is, and should remain the strongest facet of Canada’s economy,” commented RBC Capital Markets economist David Wolf. He added that Monday’s numbers, although stronger than expected, were unlikely to prompt the Bank of Canada to raise interest rates in its policy decision Tuesday.

According to Statistics Canada, the total value of building permits was $4.5 billion in April, up 6.3% from March to the highest level since last July.

Despite the overall April gain, the value of non-residential permits remained 8.7% below last year’s average.

The total year-to-date value of building permits was $17.5 billion, up 7.8% from the first four months of 2003. January-April residential permits were up 18.9% in value, while the non-residential sector was down 9.7%.

The non-residential sector, on the other hand, “continues to be hit by mixed economic indicators, though positive undertones have dominated lately.”