Eight of nine regions in the country showed increases in home prices in the second quarter, according to figures compiled by Fannie Mae and Freddie Mac. Nationwide, prices climbed 2.7%.

The only laggard was the East South Central region - Alabama, Kentucky, Mississippi, and Indiana - which had a drop of just under 1% from the level in the quarter a year earlier. For the last 12 months, however, the region has had an annualized gain of 4.7% and sturdy five-year growth of 22.3%.

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