The housing market has seen strong price gains through much of 2013, but has it made up all that lost ground from the downturn?

Let’s start with the good news: there’s no way that the national housing market is in a bubble. According to the latest Bubble Watch from Trulia, home prices are still 4 percent undervalued to their fundamental level in 2013’s four quarter; for comparison’s sake, home prices were 39 percent overvalued in the first quarter of 2006.

But what about here in Atlanta? See our graph below to find out: