Blogger’s Note: In response to reader demand, I have decided to make this animation a regular feature. The next installment will coincide with the May 22 data release.

Homes in The West from Washington state to California to Texas continue to sell at prices well above the long-term inflation-adjusted trend. There is the smallest of hints that New Hampshire, New York, and Pennsylvania are beginning to cool. Ohio and Indiana appear to be holding ground as their neighbor Michigan continues to have woes.

To show the trends I’ve produced an inflation adjusted heat map reflecting today’s OFHEO data release. The methodologies are the same as the original heatmap.

Red means that homes in the state are selling for prices above the historical price trend and blue indicates that homes are selling for prices below the area’s long-term trend based on same-home sales data. The movie starts in 1975 and runs through December 2007.

For more on how I did it, please refer to my detailed original post. The tab-delimited data set I used to construct this animation is here.