Preserving homeownership options by limiting excessive home buying by certain entities.

HB 1732 limits large investment and business entities from purchasing additional single-family homes in Washington to increase housing affordability for residents. It prohibits entities owning more than 25 single-family homes (business entities) or any investment entity (like real estate trusts managing pooled investor funds) from buying more homes, with exemptions for nonprofits, necessary renovations, or short-term development projects. Violators face civil penalties up to $100,000 per violation and must sell the property to a third party within one year. The law aims to address Washington’s housing crisis, where investor ownership has risen significantly while home prices have surged 55% since 2018. It adds these provisions as a new chapter in Washington’s consumer protection law (Title 19 RCW).