U.S. home prices fell 0.2 percent on a seasonally adjusted basis in February and dropped 3.4 percent in the year, the Federal Housing Finance Agency said on Thursday.

The regulator's price index, calculated using purchase prices of homes financed with mortgages that have been sold to or backed by Fannie Mae or Freddie Mac, has fallen 13.3 percent below its April 2007 peak.

For the nine Census Divisions, seasonally adjusted monthly price changes from January to February ranged from a 1.7 percent drop in the South Atlantic Division to a 1.9 percent increase in the Middle Atlantic Division.

(Reporting by Lynn Adler, Editing by Chizu Nomiyama)

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