The Families First Housing Act of 2026 aims to strengthen and standardize "first look" protections for foreclosed homes, ensuring priority access for families and communities. It mandates that federal entities, such as the Federal Housing Administration and Fannie Mae, offer eligible single-family residential properties exclusively to qualified first look buyers for a 180-day period. These buyers include owner-occupants, nonprofit housing organizations, local governments, and community land trusts. During this exclusive 180-day window, properties must be listed publicly and offered at their fair market value , determined by an independent appraisal or a publicly disclosed standardized valuation model. The bill explicitly prohibits the bundling of eligible properties by covered entities, preventing large-scale purchases by institutional investors. Furthermore, covered entities must publish quarterly data on property sales, detailing sales to first look buyers versus institutional investors, and their pricing methodologies to ensure transparency. Accountability measures include annual compliance reviews by Inspectors General, with public reports submitted to Congress. For violations, the Secretary of Housing and Urban Development can impose penalties like public disclosure, civil fines on employees, and, if feasible, transaction reversals. These provisions collectively seek to reorient the disposition of foreclosed properties towards supporting homeownership and community stability.