Bubble or nothing? Wall Street Journal staffer Nick Timiraos taps into price index analysis for major markets, comparing current price levels with prior peak, pre-Recession price points. Here's what he gets.

Three markets look over-valued, and here's why.

The biggest problem spots primarily crop up along the coasts in cities that have more supply constraints and in those where job growth and wealth gains have been brisk.

San Francisco and New York, okay, but Denver, too?! So says Timiraos' data. Here's the methodology.

We look at the change in the home-price index over the last 25 years, with one line that shows price change in nominal terms and another that looks at them after adjusting for inflation using the consumer-price index.