Utah's H.B. 151, introduced on January 9, 2025, aims to reshape the landscape of single-family home sales in the state. Spearheaded by Chief Sponsor Gay Lynn Bennion, the bill introduces significant restrictions designed to ensure that homes are purchased for genuine occupancy rather than investment or speculative purposes.

At the heart of H.B. 151 is the requirement for buyers to sign an "affidavit of intent to occupy" when purchasing a single-family home within the first 30 days of its listing. This affidavit must be recorded with the county recorder, affirming that at least one buyer intends to make the property their primary residence for a minimum of one year. The bill also prohibits the bulk sale of foreclosed single-family homes, a move aimed at curbing the practice of investors snapping up properties en masse, which can drive up prices and limit availability for individual buyers.

The legislation has sparked notable discussions among lawmakers and stakeholders. Proponents argue that these measures are essential to combat housing shortages and ensure that homes are accessible to families rather than being hoarded by investors. Critics, however, raise concerns about potential unintended consequences, such as limiting market fluidity and affecting property values.

While the bill does not allocate any funds, its implications could resonate throughout Utah's housing market, potentially stabilizing prices and promoting homeownership among residents. As the legislative session progresses, the fate of H.B. 151 will be closely watched, with advocates hopeful that it will pave the way for a more equitable housing environment in Utah.