In the past few weeks, numerous signals have indicated that the real estate market is on the rise. Recently, data point to an industry turnaround, including a 15 percent rise in housing starts in September; a surge in builder confidence in October, an increase in mortgage applications and a slew of regional market improvements across the country.

Housing markets in the Great Plains, including those in North and South Dakota, Texas, Wyoming, Nebraska, Louisiana and Iowa, are showing the most signs of strength these days. Bismarck, North Dakota., is expected to be the strongest market in the country in the year ahead, with housing values appreciating at a 5.6% clip. Other markets projected to be among the strongest in the year ahead include Honolulu; Fargo, North Dakota.; Harrisburg/Carlisle, Pennsylvania; and Pittsburgh. Washington, D.C., and Boston remain strong city markets.