Prices of US single-family homes rose on 0.7 percent on a seasonally adjusted basis in February from January but is still 6.5 percent compared the same month last year according to the Federal Housing Finance Agency report on Wednesday.

The FHFA monthly home price index for January was revised down to a 1% increase from a previously reported 1.7% gain. 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.

For the nine Census Divisions, 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.

FHFA regulates Fannie Mae (FNM, Fortune 500), Freddie Mac (FRE, Fortune 500) and the 12 Federal Home Loan Banks.