San Jose / Bay Area, Seasonal slowdown, or correction?

[Albert Ng]

I am curious, what does your crystal ball tell you about housing price in San Jose / Bay Area? On MLS, I saw a number of houses dropping their asking price, and time on market is longer. I talked to a couple agents, and they said they don't see much all-cash offer from oversea investors any more, only real buyers. However, at open house, there are quite a bit of buyers showing up. What do you guy think? Seasonal slowdown, or it's overheat & correcting?