The housing market may have hit its bottom, to judge from the experience of one of the most hard-hit regions in the country, according to a report Standard & Poor’s published this week.

“We believe things may finally be looking up in that, even in the worst housing markets — such as Southern California, which has experienced an especially poor real estate market since the housing bubble burst in approximately the fourth quarter of 2006 — the slide in home values appears to have bottomed out,” analyst Ian Carroll said in a statement.

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