The Standard & Poor's/Case-Shiller 20-city housing price index rose a seasonally adjusted 0.3% in December. It was the seventh consecutive monthly gain and follows a 0.2% increase in November. However, the rate of return is still negivtive.
Only three cities - Detroit, Las Vegas and Tampa - still showed double digit annual rates of decline as of the end of 2009.
15 of the 20 metro areas showed a decline in December over November, with Chicago posting the sharpest decline, down 1.6%.
The annual rate for Chicago stood at -7.2%.
The Chicagoland area is still in a declining real estate market. In fact, of the twenty cities in the index, Chicago had the largest drop in price from November to December (-1.6%).