A new bill introduced in the Arizona House aims to restrict corporate ownership of single-family homes and limit institutional investors’ influence on the state’s housing market. HB 2325, sponsored by Representative Kupper, would cap institutional investors at owning no more than 50 single-family homes statewide, prohibit bulk purchases, and prevent these entities from bidding on homes during the first 60 days they are listed for sale.
The proposed legislation is designed to give Arizona residents a better chance at homeownership amid rising housing costs and increased competition from large investment firms. The measure also aligns with national policy priorities promoted by former President Trump, who has called for similar restrictions on institutional investors in the housing market.
“President Trump is right to call this out,” Representative Kupper said. “Homeownership has long been central to the American Dream and the reward for hard work. When large investment firms buy up neighborhoods, families lose and prices climb. HB 2325 puts Arizona on the side of working people who want to own a home, raise a family, and stay rooted where they live.”
Under HB 2325, any investor already above the proposed cap would be unable to acquire additional properties unless they reduce their holdings voluntarily. The bill exempts nonprofit affordable housing providers, government agencies, community land trusts, small property owners, and modest-sized pension or fiduciary funds from its provisions.
The legislation includes requirements for annual reporting through the Arizona Department of Housing and grants enforcement authority to both the Attorney General and local prosecutors if state officials decline action.
“Housing costs have climbed nationwide as institutional investors expanded their residential footprint, while homeownership rates for younger Americans have stalled,” Kupper said. “In Arizona, population growth and limited housing supply have intensified the squeeze on first-time buyers. This bill draws a clear line. Arizona homes should be owned by Arizona families, not treated like financial instruments by distant corporations.”
Carbone was elected as a Republican representative for Arizona’s 25th House District in 2023.
