Where the Homebuyers Aren't

The Wall Street Journal reports:

As real-estate prices surged across most of America, some of the biggest gains swept coastal resorts. Now there are signs the tide has finally turned.

In Naples, Fla. -- a year ago the fastest-appreciating community in the country -- prices slipped 1% in February, says the Florida Association of Realtors. In Ocean City, N.J., the median price fell 7% in March from a year before, according to an estimate by the Ocean City Board of Realtors. Most other places nationwide have yet to show a fall in median prices, which typically lag a sales slowdown by several months.

Coastal real estate.