Restricts purchase of single-family homes by certain institutional investors.

This bill would prohibit certain institutional investors from purchasing single-family homes in New Jersey that are listed on the market and available for purchase. The law defines institutional investors as corporations, partnerships, trusts, and their affiliates, while exempting nonprofit housing developers, family trusts, and family limited liability companies. It also creates a special category for "small institutional investors" that own 20 or fewer single-family homes, which may be treated differently under the restrictions. The measure aims to limit large investment firms from buying residential properties while allowing family-owned entities and affordable housing nonprofits to continue acquiring homes.