Zillow calls bottom for home values

Index based on 'Zestimates' shows first year-over-year quarterly gain since 2005

U.S. home values eked out their first year-over-year quarterly gain in five years during the second quarter of 2007, according to a report released today by online real estate marketplace Zillow.

Zillow’s second-quarter real estate market report showed median home values up 0.2 percent at the end of June compared to a year ago, to $149,300. The report also showed median home values have posted four consecutive months of year-over-year gains.