According to the S&P/Case Shiller index report released on July 29th, home values in Chicago increased 1.2% in May representing the third month-over-month increase in home prices following six consecutive monthly declines. Home prices in Chicago are up 8.5% compared to May 2013, indicating that the housing market is steadily 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