S 3937 — Homes for American Families Act
Last action — Read twice and referred to the Committee on the Judiciary.
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✓Introduced
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2In Committee
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3Passed Senate
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4Passed House
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5To Executive
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6Enacted
This bill is in committee in the Senate. Introduced February 26, 2026. It must pass committee before a floor vote.
Next likely step: a committee vote, then a floor vote in the Senate.
Prognosis
Where this bill stands today.
Odds of enactment
LowHow often bills like it became law.
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In Committee
Current position in the legislative process.
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2 sponsors
1 primary, 1 co-sponsors signed on.
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Bipartisan support
Sponsored across 2 parties (1 R · 1 D) — cross-party backing.
Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.
In plain language
The bill prohibits certain entities from buying residential real estate.
The Homes for American Families Act aims to prevent real estate investment trusts, insurance companies, and large investment firms from purchasing residential real estate. Exceptions are made for homebuilders and developers constructing properties for eligible buyers.
Bill Text
- Introduced Introduced in Senate Current html February 26, 2026
Compared against current U.S. Code AI-generated reading aid — verify against the official bill.
The bill adds a new section to the Sherman Act that prohibits certain entities from purchasing residential real estate and changes the nature of violations regarding such purchases.
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15 U.S.C. § 1
SEC. 9. RESIDENTIAL REAL ESTATE CONTRACTS IN RESTRAINT OF TRADE. (a) Definitions.--In this section: (1) Covered entity.-- (A) In general.--The term `covered entity' means-- (i) real estate investment trust; (ii) an insurance company; or (iii) an investment company or private fund-- (I) with assets under management of not less than $150,000,000; or (II) that is directly or indirectly owned or controlled by a person that directly or indirectly owns or controls 1 or more investment companies or private funds with total assets under management of not less than $150,000,000. (B) Aggregation rules.--For purposes of determining the assets under management of an entity under subparagraph (A)(iii), all persons which are treated as a single employer under subsection (b) or (c) of section 414 of the Internal Revenue Code of 1986 shall be treated as one entity. For purposes of this subsection, in applying section 414(b) of such Code, section 1563 of such Code shall be applied without regard to subsection (b)(2) thereof. (2) Insurance company.--The term `insurance company' has the meaning given the term in section 2(a) of the Investment Company Act of 1940 (15 U.S.C. 80a-2(a)). (3) Investment company.--The term `investment company' has the meaning given the term in section 3 of the Investment Company Act of 1940 (15 U.S.C. 80a-3). (4) Private fund.--The term `private fund' means a corporation that would be considered an investment company under section 3 of the Investment Company Act of 1940 (15 U.S.C. 80a-3) but for the application of paragraph (1) or (7) of subsection (c) of such section 3. (5) Real estate investment trust.--The term `real estate investment trust' has the meaning given the term in section 856 of the Internal Revenue Code of 1986. (6) Residential real estate.--The term `residential real estate' means-- (A) a single-family home; (B) a condominium; (C) a townhouse; and (D) any land that has been zoned by a local government for the development of a property described in subparagraphs (A) through (C). (b) Contracts in Restraint of Trade.-- (1) In general.--Except as provided in paragraph (2), any purchase by a covered entity of residential real estate shall be deemed a contract in restraint of trade in violation of section 1, except that the violation shall be civil only and no criminal penalty under that section, including a term of imprisonment, shall apply. (2) Exceptions.--Paragraph (1) shall not apply to a homebuilder, developer, or redeveloper if the units of residential real estate are being or have been constructed for ownership by a person or entity that is not prohibited from purchasing residential real estate under this subsection. (3) Application.--Paragraph (1) shall only apply to the purchase of residential real estate on or after the date of enactment of this section. (c) Prioritized Antitrust Scrutiny and Enforcement.--The Assistant Attorney General in charge of the Antitrust Division of the Department of Justice shall prioritize the review of purchases of residential real estate by a covered entity for anti-competitive effects and prioritize enforcement of antitrust laws, as appropriate, against coordinated vacancy, pricing strategies, and other anticompetitive practices by covered entities in local residential real estate markets.
This addition creates a specific prohibition on certain entities purchasing residential real estate, establishing civil penalties while removing criminal penalties for such violations.
Action History
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Introduced in Senate
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Read twice and referred to the Committee on the Judiciary.
Sponsors
- Jeff Merkley · Cosponsor
- Josh Hawley · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 1 co-sponsors · 545 not signed on
Sponsors (1)
- Hawley, Josh Republican
Co-sponsors (1)
- Merkley, Jeff Democratic
Not signed on (545)
545 members have not signed on to this bill.
Show all 545 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Subjects
Frequently asked questions
- Who sponsors S 3937?
- S 3937 is sponsored by Merkley, Jeff (Democratic) and Hawley, Josh (Republican).
- What is the current status of S 3937?
- This bill is in committee in the Senate. Introduced February 26, 2026. It must pass committee before a floor vote.
- Where can I track S 3937?
- Track S 3937 free on One Click Politics — get push/email alerts when it moves.
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