U.S. housing market bottom within sight

House price declines in Stockton, California, are expected to reach a nadir in the fourth quarter of 2009, with a peak-to-trough drop forecast at 67.1 percent. The peak was reached in the first quarter of 2006.

Moody's Economy.com, based in West Chester, Pennsylvania, provides economic research and consulting services to businesses, governments and other institutions.

(Reporting by Julie Haviv; Editing by Gary Hill)