According to the S&P/Case Shiller index report released on March 25th, home values in Chicago decreased 1.2% in January, representing the fourth 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.