Although many industry experts agree that recovery for the overall housing market is still far off, some of them believe that several local markets can get back on their feet over the next four years. Moody’s Economy.com and the Wisconsin-based financial services industry information company Fiserv predicted that by 2014, markets in the Pacific Northwest will lead a 7.2% increase in national home prices.

According to analysts, home prices in Washington State’s Bremerton-Silverdale area, in particular, are likely to soar by 44.7% over the next four years, posting an annual growth of 9.7%. The area, a quiet naval community across the Puget Sound from Seattle, received the highest forecast among 384 metropolitan statistical areas surveyed by Economy.com and Fiserv.

One of the reasons for Bremerton-Silverdale’s predicted swift recovery is its robust economy. Fiserv chief economist David Stiff said the area’s economy is considerably stronger than the rest of the country. In addition, its unemployment rate is 2.3 percentage points lower than the national rate of 9.5%, U.S. Bureau of Labor Statistics Showed.

Ken LeMay, a real estate broker in Kitsap County, which included the Bremerton-Silverdale area, attributed the rosy economy to the presence of military installations in the region. He said the Naval Base Kitsap and the Puget Sound Naval Shipyard helped sustain local employment, which plays a vital role in the recovery of the local housing market.

Meanwhile, experts warned that markets that were mostly affected by the burst of the housing bubble will remain in the doldrums for a while. Home prices in Miami, Florida, and Atlantic City, New Jersey, are likely to decline by 14.8% and 12.1%, respectively, over the next four years, they said.

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