This chart is the same as Case-Shiller U.S. Real Home Price Index (with SD) except that the the horizontal lines are removed and the index values colored to denote them as over/undervalued when they are more than one standard deviation above/below the average and extremely over/undervalued when they are more than two standard deviations above/below the average.
mccormick-charts.com: Case-Shiller U.S. Real Home Price Index
external: Case Shiller Index, standard deviation