Drought-busting events in the Colorado River Basin, such as the “Miracle May” of 2015 that greatly alleviated an unprecedented water shortage, have been observed for more than a century. But while such events are much prayed for in times of drought, they have not been well researched or even characterized. In this study, conducted in collaboration with water managers from across the basin, we propose a definition for “miracle events” that reflects real-world, actionable relevance. The resulting characterization offers a framework by which to quantify the frequency and strength of extreme dry-to-wet springtime transitions. While limited by uncertainties in model simulations and the myriad hydrological futures these simulations seek to project, and thus requiring cautious interpretation, this study finds that such transitions may become less frequent and less powerful under climate warming.