Normal 0 false false false EN-US X-NONE X-NONE The S&P/Case-Shiller index of propertyvalues in 20 cities increased 4.3% from October 2011, the biggest 12-month advance since May 2010. Remember the spring of 2010 was skewed due to the tax credit being given at that time. Estimates were for an increase of 4.0%. Home prices adjusted for seasonal variations rose 0.7% in October from the prior month, with 17 of 20 cities showing gains. Las Vegas showed the biggest gain with a 2.4% advance, followed by San Diego with a 1.7% increase. Property values dropped the most in Chicago, which fell 0.7% over the month. This is positive news for the housing market. Sustained Recovery in Home Prices According to the S&P/Case-Shiller Home Price Indices
