By Prashant Gopal Bloomberg News Comments Home values posted their first year-over-year increase since 2007 in the second quarter as the U.S. property market began to lift off a bottom, Zillow Inc. said Tuesday. The Zillow Home Value Index rose to $149,300, a 0.2 percent increase from the second quarter of 2011, according to the Seattle property-data company. Metro Detroit's home values increased 2.1 percent to $74,000 in the second quarter â" the first quarter of annual appreciation for Metro Detroit since the fourth quarter of 2005, Zillow reported. Home values have risen 3.4 percent since hitting bottom in August 2011 at $71,600 in the Detroit region, according to Zillow. Residential...
0 Responses to Metro Detroit home values up 2.1 percent in second quarter