There's little doubt that San Diego's housing market has recovered, but a new report questions if the area is actually overvalued. Collateral Analytics sees San Diego County as one of the nation's most overvalued housing markets in a recent study, in which it evaluates mortgages of homes sold compared to an ideal value of homes based on affordability and other local factors. The actual price vs intrinsic value ratio is what determines an overvalued property, according to Barron's. In more than 900 major metro cities across the nation, Collateral Analytics found that homes average 4% above optimal value. For San Diego, it's 6%, the tenth most over-valued area in the US. But perhaps there's no cause for panic yet: In the run-up to the last recession, average US homes were overvalued by 15%, and the top market—LA--by more than 75%. Six of the 10 most overpriced housing markets in the country are in California, fueled by the tech industry and foreign capital buying up housing. [Barron's]