According to the latest data from RealyTrac, the markets with the biggest recent pickups are Honolulu; Flint, Mich.; and Albany, N.Y.
Another factor has helped speed the recovery in some markets more than others: how the foreclosure process is handled. Markets like California, Nevada, Arizona and Georgia have seen their recoveries take off because they allow what's called a nonjudicial foreclosure process, which tends to be quicker than the courts.
"Those markets have worked through the foreclosure problem more quickly than other markets," Blomquist said. "What that means is that they don't have that lingering distress … that drags on home prices."
The recovery in California and other parts of the West Coast has largely been driven by the tech economy, Berkowitz said.
So much so, that the recovery in some markets may be getting close to its peak.
In San Jose, for example, prices are 70 percent off their bottom already, Blomquist said. San Francisco is 96 percent off its bottom.
"I think many of the California markets, especially San Jose and San Francisco, are getting back to that bubble level," Blomquist said. "Some markets are close to plateauing in terms of home prices but scaling back the pace of recovery to single-digit growth, which going forward is much more healthy."
So, where are the next hot spots?
Believe it or not, while many parts of Florida have already seen double-digit growth, pros say there's more room to run in Florida.
In Tampa, for example, prices are 38 percent off the bottom, Blomquist said, but they're still 44 percent below their peak in August 2006.
By contrast, prices in San Jose and San Francisco are 12 percent and 22 percent below their peaks, he said.