Home values in the Boston area rose by 2.3 percent in November compared with the same month in 2011, according to data released Tuesday by the S&P/Case-Shiller Home Price Indices, which is widely considered a reliable measure of the housing market.

Nationwide, the improvement was more pronounced, with prices increasing by 5.5 percent in the 20 metropolitan areas tracked by Case-Shiller. Unlike some other housing barometers, the index is based on repeat home sales, which many industry analysts consider a more accurate way to gauge the market.