HB 1252: Homes for Georgians First Act; enact

Currently, Georgia law places no special restrictions on how large investment firms buy up single-family or two-family homes, which some argue drives up prices and shrinks the supply of homes available to ordinary buyers. This bill, called the "Homes for Georgians First Act," adds a new section to Georgia's property law (O.C.G.A. § 44-5-49) that targets what it calls "institutional real estate investors," defined as large entities that own 100 or more single-family or two-family homes, manage pooled investor funds, act as a fiduciary for investors, and hold at least $375 million in assets. Under the bill, these large investors could not buy a single-family home unless the property had been listed for sale for at least 30 days and a regular home buyer purchasing it as a primary residence had failed to match the investor's offer or another competing offer. The bill does not set an explicit effective date beyond standard enactment, and it repeals any conflicting laws.

• Creates a new definition of 'institutional real estate investor' covering large entities that own 100+ single-family or two-family homes and manage at least $375 million in assets.
• Defines a 'single-family resident home buyer' as someone purchasing a home to live in, not as a vacation or investment property.
• Bars institutional real estate investors from acquiring any interest in a single-family residence unless the property has been on the market for at least 30 days.
• Requires that, even after 30 days, the sale can only proceed to the institutional investor if no resident home buyer matched the investor's offer.
• Repeals any existing Georgia laws that conflict with these new restrictions.

Large real estate investment firms and institutional buyers that meet the size and asset thresholds, individual home buyers and families seeking to purchase primary residences, and home sellers whose properties may be marketed differently to comply with the new waiting period and matching rule.

If enacted, the bill would give individual home buyers a 30-day window and a right to match competing offers before large institutional investors could purchase a single-family home, potentially changing how quickly big investors can buy homes and who ends up owning them in Georgia neighborhoods.

• Section 1 gives the bill its short title, the 'Homes for Georgians First Act.'
• Section 2 adds new Code section 44-5-49, defining 'institutional real estate investor' using four combined criteria: owning 100+ qualifying homes, managing pooled investor funds, acting as a fiduciary, and holding $375 million or more in assets or net value.
• Section 2 also defines 'single-family resident home buyer' as someone buying a home as a primary residence, not for investment or vacation use.
• Section 2 prohibits institutional real estate investors from acquiring an interest in a single-family residence unless the home has been listed for sale for at least 30 days and no resident home buyer matched a competing offer.
• Section 3 repeals any state laws that conflict with the new restrictions.

1. 2026-02-11House Second Readers (House)
2. 2026-02-10House First Readers (House)
3. 2026-02-09House Hopper (House)

• Phil Olaleye (D, HD-059)Primary sponsor
• Mary Oliver (D, HD-084)
• Spencer Frye (D, HD-122)
• Leesa Hagan (R, HD-156)
• Derrick McCollum (R, HD-030)
• Debra Bazemore (D, HD-069)

• housing market
• institutional home buyers
• property law
• real estate investment
• affordable housing