Fitch Ratings compiled a list for Forbes of the five most overvalued and undervalued housing markets in the country based on its quarterly Sustainable Home Price model, which weighs home price trends against the economic fundamentals of the local market, including income growth, unemployment rates, population

Fitch rates as undervalued several markets where prices have risen sharply in the past year amid heavy investor buying: Las Vegas, Atlanta, Chicago and Orlando, Fla.