New housing Construction has hit its highest level this year in November, more proof that Canada’s real-estate market has clawed out of recession. 

Record low interest rates are fuelling a rebound in Canada’s real-estate market, spurring rising prices and a flurry of buying activity. The Bank of Canada will provide its current view of lending rates and the economy today.

New Construction has rose slightly to 158,500 units,  up from 157,400 in October as single-home construction. Canada Mortgage and Housing Corp. said Tuesday.

The results were slightly less than the 165,000 starts economists had expected. Still, they’re running at a much stronger level than in April, when they sunk to the 118,500 mark.

More builders have plans in the works, a report showed yesterday. Building permits jumped 18 per cent in October to the highest value in 13 months, Statistics Canada said yesterday.