A report from the Bay Area Newsgroup in California. "Runaway Bay Area housing prices have started stalling in San Mateo and Santa Clara counties, hinting that even well-salaried professionals have had enough. Resale home prices dropped year-over-year in February in Santa Clara County by 16 percent and in San Mateo County by nearly 6 percent, according to CoreLogic."

"Home sales over $2 million in Santa Clara County dropped nearly 30 percent in the last two months, compared with the same period last year. 'Did we begin to hit more and more people’s limit?' said CoreLogic analyst Andrew LePage. 'Sure.'"

"The super-heated prices in tech-heavy counties dropped: Santa Clara home prices fell from $1.29 million last February to $1.09 million this year, while San Mateo dropped from $1.45 million to $1.37 million, and San Francisco remained flat at $1.45 million. Santa Clara County prices also dropped double digits, year-over-year, in December."

"The valley market is getting back to a more historic balance, said Alan Barbic, president of the Silicon Valley Association of Realtors. 'It’s been years since we’ve had to talk price reductions with our clients,' Barbic said."

"Transactions fell 12 percent from the previous year and were at the lowest mark for February sales since 2008. The record streak of rising Bay Area home prices started in April 2012, when the median sale price in the nine county region was $425,000, according to CoreLogic. Over the next seven years, median sale prices have more than doubled, hitting a peak of $935,000 last May."

The San Francisco Chronicle. "'The intensity of the market we had a few years ago is not there right now,' said Jeannie Anderson, an agent with Alain Pinel in Palo Alto. 'A lot of the foreign money we had a few years ago isn’t there. That has made somewhat of a difference. A lot of people who did extremely well with their investment have sold their properties, taking the money while they can. A lot of people have gone out of state,' she said."