These vacant properties, referred to as "zombie foreclosures," are still owned by their original owners but remain unoccupied and are not being leased or sold. This phenomenon has caused some social issues and raised concerns about the housing market.

Analysis suggests that the increase in these vacant properties is mainly due to the surge in foreclosure moratoriums. During the COVID-19 pandemic, the suspension of foreclosure rights was implemented to protect homeowners from losing their properties due to unemployment.

With the expiration of these moratoriums, the number of residential properties in foreclosure procedures increased by approximately 12.8% in the fourth quarter. While real estate experts are not particularly worried about another foreclosure crisis similar to that of the 2008 economic downturn, the increase in these vacant properties has caused apprehension among many.

Notably, New York and the rural areas of the Midwest are among the most severely affected regions by zombie foreclosures. New York has the highest proportion of "zombie foreclosures," with one in every 2,115 homes being affected. Additionally, Ohio, Illinois, Iowa, and Indiana are also heavily affected.

In Peoria County, Illinois, the zombie foreclosure rate is the highest, at about 15.6%; Baltimore County, Maryland, is at 14%; Marion County, Indiana, where Indianapolis is located, is at 13.1%; Broome County, New York, is at 11.4%; and Cuyahoga County, Ohio, is at 8.2%.

However, despite these staggering figures, the proportion of vacant properties remains relatively low nationwide, with one empty house for every 11,412 housing units, accounting for approximately 1.27% of total properties.

Furthermore, the real estate market remains relatively stable. Unlike during the 2008 economic crisis, the number of high-risk loans is currently lower, and many homeowners have enough property equity to sell their homes in times of difficulty, avoiding foreclosure. Additionally, the number of prospective buyers exceeds the number of homes for sale, contrasting sharply with the situation during the economic crisis.