Geographic dispersion — not all markets are the same cycle

The national housing cycle averages over 50 state cycles + 400+ MSAs. Sun Belt vs. Northeast vs. California are running separate stories at any given time. Pick a state to see its trajectory against the US, or pick an MSA for the metro-level housing-price view. The ranked-states bar below shows where any single state sits versus all peers.

State / Region
Metro Area (HPI)
Ranked-states metric

State trajectory vs. US

Selected state in amber, US benchmark in blue dashed. NBER recessions shaded pink. Diverging lines = state-specific cycle dynamics worth understanding.

Unemployment rate
FHFA HPI (YoY %)
Total nonfarm employment (YoY %)
Population (YoY %)

Metro housing prices — FHFA quarterly HPI

Selected metro vs US national. The FHFA index uses repeat-sales of conforming mortgages — narrower coverage than Case-Shiller but available at MSA-level. Major coastal metros (NY/SF/LA/Boston) and Sun Belt metros (Phoenix/Atlanta/Tampa/Dallas) often run materially out of phase.

Synthesis

Metric Library — 25 state/MSA economic series

Public-data inventory beyond the four headline metrics above. Hover any card for a structured explanation: what it is, why it matters, what drives it, and the “so what” for housing / consumer / operational decisions. Source tag indicates live FRED vs snapshot.