Families First Housing Act of 2026

Priority Access for Families and Communities: The bill ensures that qualified first look buyers, such as natural persons intending to occupy a home as a primary residence, have exclusive access to eligible properties for a 180-day period (Section 2(a), Section 2(j)(4)).

Fair Pricing Protections: To ensure people are not overcharged, the bill requires properties to be offered at a price representing the fair market value determined by an independent third-party appraisal or broker price opinion (Section 2(b)(1)).

Transparency in Sales: The bill requires covered entities to list properties on a publicly accessible website that shows how many days remain in the exclusive sale period (Section 2(c)). Furthermore, entities must publish quarterly reports regarding the number of properties sold to first look buyers versus institutional investors and the ratio of sale prices to fair market value (Section 2(e)).

Accountability and Oversight: The bill establishes oversight through annual reviews by Inspectors General, who must submit and publish reports to Congress regarding any violations of these provisions (Section 2(f)).

Enforcement against Violations: The Secretary of Housing and Urban Development has the power to require public disclosure of violations, impose significant civil penalties, or even unwind transactions associated with a violation (Section 2(g)).

Potential for Valuation Uncertainty: If a covered entity determines that a fair market value cannot be determined by an independent third-party appraisal or broker price opinion within 60 days, they may use a standardized valuation model instead, provided they disclose the methodology (Section 2(b)(2)).

Requirement for Rules and Verification: Covered entities must create rules within 180 days of enactment to carry out this section, which must include a process to verify the eligibility of qualified first look buyers (Section 2(h)).