Home prices gain in December as the Standard & Poor’s Case-Shiller home price index rises. This was the seventh straight monthly gain, another sign the U.S. housing market continues to recover.

The S&P's/Case-Shiller 20-city home price index released Tuesday increased 0.3 percent from November to December, to a seasonally adjusted reading of 145.87. The index was down 3 percent compared to December 2008 but up more than 3 percent from its bottom in May. Compared to its May 2006 peak, it is still off 30 percent.

Los Angeles had the largest month over month price gain in December with 1 percent.

Five of 20 cities in the index showed declines. Prices drops were recorded in key markets like Miami, New York and Chicago. Chicago had the biggest month over month price loss by 1.6 percent.

In Las Vegas, prices increased 0.2 percent, the first monthly gain for that city in three years.

"It's about time for Las Vegas to come back," said Shiller, adding, "It's possible that Las Vegas could go through another volatile period."