House prices fell 0.2% in February on a seasonally adjusted basis after a 0.6% drop in January, according to the Federal Housing Finance Agency house price index. "For the 12 months ending in February, U.S. prices fell 3.4%," the GSE regulator said. FHFA economists use Fannie Mae and Freddie Mac purchase mortgage transactions to compile the index. House prices rose in three of the nine regional areas. Prices rose 0.8% in the Pacific region (Calif., Oregon and Wash.), 0.6% in the West South Central region (Okla., Ark., Tex. and La.) and 1.9% in the Middle Atlantic region (N.Y., N.J. and Penn.) The FHFA HPI is 13.3% below its April 2007 peak.
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