According to the S&P/Case Shiller index report released on February 25th, home values in Chicago decreased 0.5% in December, representing the third monthly decrease in Chicago after seven consecutive months of increasing home prices. Home prices were up 11.3% from December 2012, indicating that the housing market is improving.
The S&P/Case-Shiller Home Price Indices are calculated monthly using a three-month moving average and published with a two month lag. New index levels are released at 9 am on the last Tuesday of every month.