The Dallas area is ranked as the top housing market in the country in a new report by mortgage giant Freddie Mac.

Dallas, Nashville and Honolulu are at the head of a list of cities that have seen the most housing market improvement, according to a just-released market report by the Washington, D.C.-based mortgage firm.

More than 80 percent of the country's major housing markets have shown improvement over the last three months, according to Freddie Mac.

Freddie Mac deputy chief economist Len Kiefer said the survey "does not yet capture the recent jump in mortgage rates since the election, which will drive down homebuyer affordability and likely dampen demand for home sales next year in some markets."

"While we see strong house price growth in markets like Dallas, Houston, Orlando, Phoenix and others, most are still well below their pre-2008 peak and still have significant room for improvement," he said.

North Texas median home sales prices are at an all-time high — up more than 40 percent in the last four years.

In November, preowned home sales in the area were up 26 percent from a year earlier. It was the biggest year-over-year home sales gain for North Texas in almost four years.