Trump Says He Won’t Sign Bipartisan Housing Bill as Home Prices Hit Record High

As of today, President Trump says he won’t sign the bipartisan 21st Century ROAD to Housing Act, mainly to protest the Senate’s failure to pass the “SAVE America Act,” the voter ID bill that’s currently stalled by a Democrat filibuster. 

So far, he hasn’t said he’ll veto the bill, so even if he doesn’t sign it, the bill will automatically become law on Saturday, July 11. 

Meanwhile, one day before Trump’s announcement, NAR’s existing-home sales report put the median home price at a record-high $440,600. 

Here’s a recap of what’s in the bill Trump recently called “a big yawn” and what it means for your conversations with buyers.

The Housing Bill Is Becoming Law With or Without Trump’s Signature

Congress passed the 21st Century ROAD to Housing Act on June 24 with overwhelming support from both parties. The ROAD Act is a combined federal housing bill with two major initiatives: 

1. It limits how many homes big investors can own. Large institutional investors that already own more than 350 single-family homes will be blocked from buying more single-family houses. The section is titled “Homes Are For People, Not Corporations.”
2. It makes it easier to build. The bill cuts some federal regulations, adds grant funding and pilot programs for new construction, and lets local governments speed up the approval process. The goal is more homes and lower costs for buyers.

On the day the ROAD Act passed, Trump canceled the signing. On Friday, July 10, he flat-out said he won’t sign it. 

Under the Constitution, a bill becomes law automatically if the president doesn’t return it within 10 days of receiving it. That clock runs out Saturday, July 11. So, unless Trump issues an actual veto before then, the bill takes effect as written.

The White House hasn’t confirmed whether a veto is coming. When CNBC asked directly, the White House pointed to Trump’s own Truth Social post instead of answering: 

Record Home Prices Just Landed in the Middle of This

One day before Trump’s announcement, the National Association of REALTORS® (NAR) reported that the median price of an existing home sold in June hit $440,600, the highest level ever recorded. It’s also a 1.8% increase from one year ago. 

Even with NAR’s reported uptick in the Housing Affordability Index, the math for today’s homebuyers, especially first-time buyers, is still a barrier for many. This bill could help with that. 

Whatever you think of the politics, the data stands on its own. One day from now, if this bill becomes law, your buyers will want to know exactly how it can help them become homeowners. 

Stay tuned for the update when the outcome goes public.