U.S. home prices rose 0.7 percent on a seasonally-adjusted basis from January to February, according to the Federal Housing Finance Agency's monthly House Price Index. January's previously reported 1.7 percent increase was revised to a 1.0 percent increase.
For the 12 months ending in February, U.S. prices fell 6.5 percent. The U.S. index is 9.5 percent below its April 2007 peak.
The FHFA monthly index is calculated using purchase prices of houses backing mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac.
Seasonally-adjusted monthly price changes from January to February ranged from -1.2 percent in the East North Central Division to +3.8 percent in the Pacific Division.
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