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In my recent January home price data roundup, I included a graph of home prices during the early-1990s bust to illustrate that bouts of price strength were common even during a protracted downturn. A smart reader pointed out that mini-rallies were more than just common — they were to be expected as part of the seasonal price cycle.
The lesson here is that because they tend to occur during bull and bear markets alike, spring home price rallies don’t appear to have a whole lot of predictive value.
— RICH TOSCANO