It is little secret the housing market has been on fire for the past few years. As prices rise, homebuyers can't help but have a sinking feeling that they may be buying into an overvalued market. In some cases, unfortunately, they are. For instance, Phoenix, Las Vegas and Stockton, California – three metropolitan areas hit hard by the nation's housing collapse more than a decade ago – now rank among the 10 most overvalued of the nation's largest housing markets, according to a recent analysis by professors at Florida Atlantic University and Florida International University.