S&P/Case-Shiller Index Rises More Than Expected Ahead Of Wednesday's Pending Home Sales

The S&P/Case-Shiller Index rose by 0.76 percent, according to data released on Tuesday. The figure was higher than the 0.4 percent economists estimated. Year-over-year, the index declined 4.5 percent, down from 4.82 percent last month.

Tuesday's data point marks the largest month-over-month increase since March 2014 despite price trends inching lower on a year-over-year basis.

Investors will receive data on November's Pending Home Sales during Wednesday's shortened trading session. Economists are currently expecting a 0.5 percent month-over-month increase and a 3.6 percent year-over-year increase.

Shares of the SPDR S&P Homebuilders ETF (NYSE: XHB) were trading slightly higher by 0.12 percent Tuesday morning.