Case-Shiller Tuesday: Chicago home values up quarter-on-quarter, down month-to-month

It’s the last Tuesday of December, which means it’s time to check in with S&P’s Case-Shiller Indices to see how home values fared in October.

Chicago overall home values dipped by 1 percent from September to October but were up by almost 2 percent (or 1.5 percent, seasonally adjusted) from July to October. Condo values saw minimal change from month to month and rose slightly over a three-month period.

Nationally, home values saw almost no change whatsoever from September to October. “The turn-around in home prices seen in the spring and summer has faded with only seven of the 20 cities seeing month-to-month gains, although all 20 continue to show improvements on a year-over-year basis,” S&P Index Committee Chairman David Blitzer says in his notes accompanying the release. “All in all, this report should be described as flat.”

Listed below are the changes in home value from September 2009 to October 2009, as well as changes from July ‘09 to October ‘09 and October ‘08 to October ‘09 (with seasonally adjusted values in parentheses).

Chicago overall home values

  • Month-to-month: -1% (-1%)
  • Quarter-on-quarter: +1.9% (+1.5%)
  • Year-over-year: -10.1%

Chicago condo values:

  • Month-to-month: +0.2% (+0.4%)
  • Quarter-on-quarter: +1.1% (+0.8%)
  • Year-over-year: -8.5%

10-city home values:

  • Month-to-month: 0% (+0.4%)
  • Quarter-on-quarter: +1.9% (+2%)
  • Year-over-year: -6.4%

20-city home values:

  • Month-to-month: 0 % (+0.4%)
  • Quarter-on-quarter: +1.6% (+1.7%)
  • Year-over-year: -7.3%

Case-Shiller’s 10-city index calculates values from the Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York City, San Diego, San Francisco, and Washington, D.C., metro areas. The 20-city index comprises those areas, plus the Atlanta, Charlotte, Cleveland, Dallas, Detroit, Minneapolis, Phoenix, Portland, Seattle, and Tampa metro areas.

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