Coincidentally, it seems a few happened starting around this time of the year (1991, 1992, 1994).
That’s a seasonal phenomenon, you’ll see it every year in every city. HPI peaks approx 1% above 12-month moving average in August and bottoms 1% below the average in February. Probably has something to do with the fact that people with kids don’t like to move during the school year.
This time it may be irrelevant for the following reason
