Spring 2026

Oregon's 2026 legislative session adjourned sine die in March with a focused housing-supply package. The bills do not change real estate license law directly but reshape the inventory and entitlement landscape that Oregon brokers work in.

HB 4128A requires that single-family homes are first made available to the general public before large institutional investors can buy them — closing what advocates called the "investor first-look" loophole. The bill passed both chambers and is awaiting the Governor's signature. HB 4035 refines and expands the one-time urban growth boundary expansion process Oregon established under SB 1537 in 2024: eligibility now extends to cities where 25% of households spend more than 30% of income on rent, the acreage cap rises from 100 to 150 acres for cities over 25,000 population, and expansion onto farmland or forest land is permitted when no other options exist. HB 4036, the top legislative priority of Housing Oregon, authorizes new Article XI-Q bonding authority to fund preservation of existing affordable housing — roughly $100M in new bonds for affordable housing without cuts to other state housing programs.

Brokers working investor-listing-side should note the HB 4128A first-look requirement — listing scripts and showing schedules may need a documented public-availability window before institutional offers are entertained. The Rental Housing Journal session recap covers the landlord-tenant angle; Housing Oregon's recap provides the affordable-housing financing picture; 1000 Friends of Oregon's overview contextualizes the land-use changes under HB 4035.