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...
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