single-family homes; institutional investors

HB 2325 restricts institutional investors (entities owning 10+ single-family homes in Arizona) by limiting them to owning no more than 50 homes, banning bids on homes listed for sale within 60 days, and prohibiting bulk purchases of multiple homes. It exempts nonprofits focused on affordable housing, government agencies, community land trusts, small entities (under 50 homes), and pension funds with less than $5 million in assets. Institutional investors must annually report ownership and transactions to the Arizona Department of Housing by March 15, with reports kept confidential except for aggregated policy use. The law applies to transactions after its effective date, targeting large-scale commercial home ownership while allowing homebuilders and smaller entities to operate without restrictions.