Inflation adjusted analysis of mainland U.S. same home sales shows a cooling across Michigan and Massachusetts. For your enjoyment I have generated an animated heat map indicating the states that are burning above (red) and below (blue) the historical price trend for that area. The chart runs from 1975 through September 2007.
For every region I have done a regression analysis to determine the long-term historical growth rate. When local prices are way above sustainable long-term averages for that metropolitan area they contribute to a state being colored bright red. When home prices have fallen to be far below what they should be, they contribute to their state being colored deep blue.
