According to the S&P/Case Shiller index report released on April 29th, home values in Chicago decreased 0.9% in February, representing the fifth monthly decrease in Chicago after seven consecutive months of increasing home prices. This is likely due to the seasonal nature of the Chicago housing market, which historically declines in the Winter months.
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