Second-best market: Sacramento, Calif.
Projected median price gain: 11.9%

California's state capital saw median home prices plummet 52.3% during the bust, tumbling from $421,900 in late 2005 to just $201,200 by January 2012.

And while home values have rebounded 12.9% since then to hit a median $225,200, the market is still down nearly 50% from its peak.

Humphries says prices are only back to mid-2002 levels, part of the reason Zillow predicts Sacramento's median home values will add another 11.9% this year.

He adds that California's state government recently reversed years of budget problems and expects a small surplus in 2013 -- good news for Sacramento's housing market.

"Being the state capital probably hasn't been a big factor for the Sacramento real estate in the past couple of years -- but now that they're running a surplus, we'll see if that will help," the economist says.

If you liked this article you might like

If You Buy Just One Tech Stock, Make It This Apple Supplier, Jim Cramer Says

Buying Nvidia Now Is Like Getting Intel Way Back in 1993, Jim Cramer Says

GE Is 'One of the Toughest Stocks I've Ever Had to Deal With,' Jim Cramer Says

Nucor Is a 'Pounding-the-Table' Buy Here, Jim Cramer Says

Make Gary Cohn the Next Federal Reserve Chair, Jim Cramer Says