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NAR reports that Canadians accounted for 24 percent of foreign homebuyers in the United States in May, up from about 12 percent the prior year – and 33 percent of those purchases were in Florida. Canadians are taking advantage of equity gains at home, the strong Canadian dollar and falling U.S. home prices. NAR estimates that the number of buyers in the Sunshine State rose to 7,200 from 3,500 during the year-over-year period, and some Florida resort communities now predominantly speak French. Arizona is the second-most popular destination among Canadians, with Information Market reporting a two-fold jump in the number of buyers in Phoenix in 2007.

Source: Wall Street Journal (09/05/08) P. W8; Fletcher, June
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