Bad housing news nationally, great housing news for Tacoma.

According to David Stiff, chief economist for Fiserve, which provides financial analysis for the financial industry, the chances of the housing market recovering in the near future are slim (see this article from CNNMoney).

But the outook in Tacoma is much, much brighter.

"Stiff said markets that are ripe for a turnaround will be in the Pacific Northwest. The biggest gainer is expected to be Tacoma, Wash., where Fiserv said prices will rise nearly 25% by March 2013. Seattle and Portland's prices are expected to stay flat through next March and then record double-digit gains of just over 10% each over the following 12 months.

"Homes are undervalued in the Northwest," said Stiff, "the economy is diverse and the demographics strong. It has tech, manufacturing and extractive industries (like lumbering and mining) and people are still moving into the area."

If Stiff is correct, then buyers should buy now from sellers who need to sell. 

Sellers who can wait can expect more money at closing, but they should of course factor in their mortgage payments and maintenance costs to determine whether a wait is worth it.

A seller who takes "a loss" will be able to purchase another home at lower cost today.