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Are housing prices approaching bubble territory? According to this piece from National Mortgage News, they are in these markets. Click through to see the slideshow.

More than half of the nation's top 50 housing markets were considered overvalued in April, according to CoreLogic, inflating concerns that another housing bubble is developing.

Among the top 50 markets, 26 were considered overvalued and only seven were undervalued. Expanding the data out to the top 100 markets, 40 were overvalued, while 32 were at value and 28 were undervalued.

Nationwide, home prices in April increased 6.9% from a year ago and 1.2% compared to March, according to the latest CoreLogic home price index. The Irvine, Calif.-based technology and data provider also revised its original March HPI to account for updated data. Likewise, all 50 states saw home prices rise in April year-over-year.

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