While that is slightly less than the 7 percent annual jump in March, it is still making more and more markets unaffordable.

Of the nation's 50 largest housing markets, 52 percent were considered overvalued in April.

As the sharp gains in home prices continue, more markets are seeing values higher than their local economies can support.

Prices nationwide jumped 6.9 percent in April from a year ago, according to the latest monthly value report from CoreLogic. While that is slightly less than the 7 percent annual jump in March, it is still making more and more markets unaffordable.