Overview
- House Minority Leader Oscar De Los Santos is preparing bills for a 60-day ban on corporate purchases when homes first list and a cap limiting companies to 50 home buys per year statewide.
- Democrats also want a public registry for entities owning 10 or more homes and are reviving a rent plan that would limit annual increases to 7% including inflation.
- President Donald Trump’s call to block large investors from buying single-family homes has energized the push and prompted new interest from some Republicans, according to Democrats.
- Housing analysts say institutional buyers now account for a small share of purchases and warn that defining which investors would be covered could unintentionally snare small LLCs.
- Average Arizona home prices have surged from about $170,000 a decade ago to nearly $420,000 today, intensifying pressure as GOP legislative leaders decide whether to advance the measures.