The headline index climbed by 0.7% month-over-month, which was right in line with expectations.
This is up from 0.6% a month ago.
"The U.S. index is 13.6 percent below its April 2007 peak and is roughly the same as the October 2004 index level," wrote the FHFA in a press release. "U.S. house prices have not declined on a monthly basis since January 2012."
Much of the more recent pressure we've seen in the housing market has been attributed to the unusually cold weather in March.
Keep in mind that the FHFA reading we get today is from February.