Top 5 turnaround towns for 2013

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Top 10 turnaround towns for 2013

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Signs of the housing-market recovery are everywhere, from galloping mortgage rates to rising home prices and all those "under contract" signs popping up around the neighborhood.

Nationwide, homes typically sold in 83 days in the second quarter, 14 percent faster than a year earlier, according to Realtor.com. At the same time, the median list price rose 5.4 percent, to $196,000, and the number of homes on the market dropped by more than 10 percent.

Even some states hit hardest by the recession, including Michigan, California and Nevada, are starting to see their housing markets rev back up.

Realtor.com is out with its list of the Top Turnaround Towns for 2013. Several metrics are used to develop the list, including inventory, median list price, days on the market, and weighted search and listing activity on Realtor.com.

Yahoo! Homes is publishing the top five here; to see the rest of the top 10, visit CNBC.com. | By Cindy Perman, CNBC.com

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