GEORGE PELYHE (CIPS)  - Certified International Property Specialist            Telephone: 1-514-529-1010 / 514-842-4567

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Canada Looks to Out Perform US Market


October 3--Reports from two of Canada's largest real estate companies suggest that the Canadian real estate market boom will continue, and that US buyers are helping fuel the growth. Realty Times, an online news service, reports that the loss of American's confidence in the stock market is benefiting the Canadian real estate market as well as the US real estate market. Canada is seen as a real estate haven for US and other foreign investors who look to buy both residential and recreational property. The west and east coasts of Canada and Montreal are cited as some of the hottest markets, although the overall national market continues to be very strong due to local sales.

Realty Times reports that the Canada Mortgage and Housing Corp., the country's federal housing agency, is forecasting a record number of existing home sales for 2002, predicting that year's end, real estate prices will have appreciated by an average of seven percent over 2001.

Read the full story online at Realty Times.