And that means they are subject to possible price corrections, said an analysis by National City Corp (NYSE:NCC), a financial holding company, and Global Insight, a financial information provider.

Naples, Fla., had the nation's most overvalued houses, CNN said. A single-family, median-priced house in that community sold for $329,970. The analysts said that Naples was one of 65 severely overpriced communities.

The country's most undervalued market was in College Station, Texas.