US SB3937

Prohibits real estate investment trusts, insurance companies, and investment companies or private funds with $150 million or more in assets under management from purchasing residential real estate (single-family homes, condominiums, townhouses, and land zoned for such development)

Amends the Sherman Act to classify covered entity purchases of residential real estate as civil violations of restraint of trade, with no criminal penalties applicable

Exempts homebuilders, developers, and redevelopers constructing units intended for ownership by non-prohibited persons or entities

Directs the DOJ Antitrust Division to prioritize review of covered entity residential real estate purchases and enforcement against coordinated vacancy, pricing strategies, and other anticompetitive practices in local housing markets

Takes effect 90 days after enactment and applies only to purchases made on or after the date of enactment