S&P reported on Tuesday its Case-Shiller Home Price Index, which tracks home prices in 20 U.S. metropolitan areas, rose 3.6 percent y-o-y in January 2019, following a revised 4.1 percent y-o-y increase in December 2018 (originally a 4.2 percent y-o-y gain). That was the smallest annual advance in house prices since September 2012.

Economists had expected an advance of 4.0 percent y-o-y. 

Las Vegas (+10.5 percent y-o-y), Phoenix (+7.5 percent y-o-y) and Minneapolis (+5.1 percent y-o-y) recorded the highest y-o-y gains in January. 

Meanwhile, the S&P/Case-Shiller U.S. National Home Price Index, which measures all nine U.S. census divisions, was up 4.3 percent y-o-y in January, down from 4.6 percent y-o-y in the previous month. That marked the slowest pace since April 2015.