According to data gathered by ForeclosureS.com, the number of foreclosure filings for the month of July has surpassed previous months’ records both for national and at least fourteen states. Americans at risk of leaving their homes due to foreclosure has increased by 7.8 percent from last month and 88.62 percent from last year.

The analysis of the data is based on the percentage of formal default notices filed by the lender against a distressed borrower. These include the different levels in the foreclosure process namely Notice of Default, Foreclosed Homes Auction and Real Estate Owned or Bank Foreclosures.

By looking at these figures, one could assume that the outlook for the housing industry is still grim. But for experts, this can be expected only for short term. Considering that foreclosure peak after the market bottoms, it can be quite soon that the nation can expect an improvement in the current housing situation.

To support this assumption, report from the National Association of Realtors showed that the Pending Sales Index for existing homes has actually risen by 5.3 percent. This indicates that buyer confidence is returning and many investors are considering that market conditions to be optimum. Aside from this, the increase in GDP or Gross Domestic Product percentage is also an indication that the national economy is recovering from the onslaught of the foreclosure crisis.

With new home constructions at an all time low, the large inventory of homes for sale including these foreclosed properties will surely be enough to meet the growing buyers demand.

Such good news should not be taken sitting down. If you have been waiting in the sidelines, like many real estate investors have been doing since the crash of the housing industry, you might want to start considering taking the plunge. With market conditions perfect for buying, you should not waste anymore time dilly-dallying.

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