Zillow says yes in its latest report on U.S. home values released today. During the second quarter, values rose 0.2 percent, the first annual increase in nearly five years and a signal that values have reached a bottom, according to the Zillow report. At the same time, median home values have risen for four consecutive months. Said Zillow’s Chief Economist Dr. Stan Humphries:

“After four months with rising home values and increasingly positive forecast data, it seems clear that the country has hit a bottom in home values. The housing recovery is holding together despite lower-than-expected job growth, indicating that it has some organic strength of its own.”

What do you think? Have home values hit bottom?