Home prices continued to increase across the country over the last 12 months, but with slow rises and seasonal weakness, the report said.
However, Phoenix saw no change from December 2014 to January 2015 and 2.6 percent overall change from January of last year. The report also shows the index in Phoenix rose 0.2 percent from November to December 2014.
Nationally, the home price index increased 4.6 percent compared with a year earlier, according to the report, which is up from a 4.4 percent annual rise in December.
Denver and Miami posted the sharpest annual gains in January, with increases of 8.4 percent and 8.3 percent, respectively.
The index measures the value of residential real estate nationally and in 20 major U.S. metropolitan areas, including Phoenix.
Numbers show that home prices continued to rise nationally over the last 12 months, but with slow increases and seasonal weakness.
The S&P/Case-Shiller U.S. National Home Price Index is a composite of single-family home price indices for the nine U.S. Census divisions and is calculated monthly.
To read the full report, click here.