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HB 606

Real Property - New Home Sales - Entry of Final Sale Price in Multiple Listing Service

2025 Regular Session Introduced by Gabriel Acevero and 29 co-sponsors

Requires Maryland real estate agents to report final sale prices of newly constructed homes to the Multiple Listing Service, increasing housing market transparency for buyers and policymakers.

Hearing 2/11 at 1:00 p.m.
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Bill Summary · HB 606

Legislative bill overview

HB 606 requires real estate agents to enter the final sale price of newly constructed homes into the Multiple Listing Service (MLS) within a specified timeframe. Currently, new home sales data may not be consistently reported to MLS systems, creating information gaps in the housing market. This bill aims to standardize and mandate this reporting practice for residential real estate transactions in Maryland.

Why is this important

Accurate, timely sale price data is critical for market transparency, helping buyers understand fair market values and enabling policymakers to track housing trends. When new construction sales aren't reported to MLS, it creates an incomplete picture of the actual housing market, potentially affecting appraisals, pricing strategies, and the ability to identify housing affordability issues. This transparency supports informed decision-making across the residential real estate ecosystem.

Potential points of contention

  • Builder confidentiality concerns: Builders may resist mandatory price reporting, viewing it as competitive information they prefer to keep private or control timing on releasing
  • Implementation burden: Real estate agents and brokers may claim compliance creates administrative costs and complexity, particularly for coordinating with builders who may resist participation
  • MLS system limitations: Not all MLS systems may have compatible structures for new construction data, and creating uniform reporting standards across different regional systems could prove challenging
  • Definition ambiguity: The bill may lack clarity on what constitutes "new home" or "final sale price" (e.g., does it include builder incentives, upgraded pricing, or contract renegotiations?)

Compiled from official sources — confirm details with the bill’s official record.

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