Overview
- The ROAD to Housing Act provision would bar entities owning 350 or more single-family homes from buying additional houses, with carve-outs for build-to-rent purchases that must be sold to an owner-occupant after seven years.
- The Senate approved the bill and sent it to the House for consideration before it could be signed by President Donald Trump.
- Realtor.com reports institutional buyers accounted for roughly 1% of all single-family purchases nationwide from 2015–2025 and about 12% of investor transactions.
- The institutional share of investor purchases peaked at 16.3% in 2021 and fell to 7.5% in 2025, while small investors made up about 53% of investor activity over the decade.
- Institutional buying is concentrated in a limited set of metros and ZIP codes, and analysts say restricting large buyers would have limited near-term affordability effects compared with zoning reform and increased construction, a view supported by similar Cotality findings and a 2025 pullback in investor share.