# 119-s-3937: Homes for American Families Act

119-s-3937, Homes for American Families Act, is a 119th Congress bill sponsored by Sen. Hawley, Josh [R-MO] (R-MO); status introduced; PRIA reads it as touching household money (as of 2026-08-11).

- Canonical: https://policyrisk.com/legislation/119-s-3937
- As of: 2026-08-11
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-3937
- Congress: 119
- Title: Homes for American Families Act
- Status: introduced
- Introduced: 2026-02-26
- Sponsor: Sen. Hawley, Josh [R-MO] (R-MO)
- Cosponsors: 1
- Policy area: Commerce
- Touches household money: yes
- Last recorded action: 2026-08-11

## Summary

**Creates a civil ban on certain large or controlled entities buying residential real estate.** This bill would add a new Section 9 to the Sherman Act that treats purchases of defined residential properties by specified institutional investors as a civil restraint of trade and directs the Justice Department to prioritize review and enforcement. It would take effect 90 days after enactment. - Households and homebuyers: Purchases of single-family homes, condominiums, townhouses, and land zoned for those uses by covered entities would be treated as civil antitrust violations, changing who can legally acquire those properties on or after the effective date. - Covered investors: "Covered entities" include real estate investment trusts, insurance companies, and investment companies or private funds with at least $150 million in assets under management. The bill sets aggregation rules for calculating that $150 million threshold. - Enforcement and builders: The Justice Department's Antitrust Division would be asked to prioritize reviews of covered-entity purchases and target coordination on vacancy, pricing, and other anticompetitive practices. The prohibition does not apply to homebuilders, developers, or redevelopers when units are being sold to buyers who are not barred under the rule.

## Cosponsors (1)

- Sen. Merkley, Jeff [D-OR] (D-OR), 2026-02-26T00:00:00.000Z

## Provisions PRIA read

- Ban on large firms buying homes: benefit, medium. If enacted, the bill would treat purchases of most homes by certain large or related investment firms as a civil restraint of trade. A "covered entity" would include REITs, insurers, or investment funds with $150,000,000 or more in assets under management, and related companies are counted together…
- DOJ to target big buyer conduct: benefit, medium. If enacted, the bill would direct the Justice Department Antitrust Division to prioritize review of covered-entity home purchases for harms to competition. DOJ would also prioritize enforcement, as appropriate, against coordinated vacancy, pricing strategies, and other anti-competitive practices by…

## Related bills

- 119-s-1498: Halting Ownership and Non-Ethical Stock Transactions (HONEST) Act
- 119-s-463: Protect Our Letter Carriers Act of 2025
- 119-s-237: Honoring Our Fallen Heroes Act of 2025
- 119-s-4429: Connected Vehicle Security Act of 2026
- 119-s-2398: Kay Hagan Tick Reauthorization Act
- 119-s-1816: Improving Seniors’ Timely Access to Care Act of 2025

## Sources
- [119-s-3937 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/3937)

## Related
- [119-s-1498: Halting Ownership and Non-Ethical Stock Transactions (HONEST) Act](https://policyrisk.com/legislation/119-s-1498)
- [119-s-463: Protect Our Letter Carriers Act of 2025](https://policyrisk.com/legislation/119-s-463)
- [119-s-237: Honoring Our Fallen Heroes Act of 2025](https://policyrisk.com/legislation/119-s-237)
- [119-s-4429: Connected Vehicle Security Act of 2026](https://policyrisk.com/legislation/119-s-4429)
- [119-s-2398: Kay Hagan Tick Reauthorization Act](https://policyrisk.com/legislation/119-s-2398)
- [119-s-1816: Improving Seniors’ Timely Access to Care Act of 2025](https://policyrisk.com/legislation/119-s-1816)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-3937 (as of 2026-08-11).