This house market is falling apart

This house market is falling apart - MarketWatch:
"Real estate analyst Keith Jurow, author of the Capital Preservation Real Estate Report, is warning that the real estate market is not as strong as it seems.
Says Jurow: “I never bought into the idea that we had a recovery at all.”
His research leads him to conclude that home prices will be heading lower.
Why?
Largely because home listings are going up but sale prices are not.
....Jurow points out that Redfin.com’s latest figures show that in 21 out of 29 major metro areas, sales volume is down year-over-year.
“If sales are weakening and listings are going up substantially, prices will fall,” he says.
The problems in housing are much deeper than many people realize, Jurow contends. 
Another nagging concern is the large number of homeowners who are delinquent. 
“Delinquent means you haven’t paid the mortgage,” Jurow says.
...Millions of homeowners are already seriously delinquent.
“The average length of time that houses remain delinquent nationwide is 995 days,” Jurow says.
“The worst culprit is New York State.
The average delinquency period there is four years.”
Many homeowners are aware that banks are not in a rush to file foreclosures, so they stay in their houses mortgage-free. 
“The banks are not initiating foreclosure proceedings because once the servicer forecloses, the lender takes a hit on earnings,” Jurow says. 
“They also have to manage the property, and most banks don’t want to do that.”"